National Bankshares Issues Positive Forecast for PrairieSky Royalty (TSE:PSK) Stock Price

PrairieSky Royalty (TSE:PSK) had its price target upped by investment analysts at National Bankshares from C$32.00 to C$33.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. National Bankshares’ price target points to a potential upside of 19.35% from the stock’s current price.

Several other research firms have also weighed in on PSK. TD Securities increased their price target on PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. Atb Cap Markets upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets raised their target price on shares of PrairieSky Royalty from C$33.00 to C$34.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. Six analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, PrairieSky Royalty currently has an average rating of “Moderate Buy” and an average price target of C$30.67.

PrairieSky Royalty Price Performance

Shares of TSE PSK traded up C$0.04 during midday trading on Thursday, reaching C$27.65. The stock had a trading volume of 23,757 shares, compared to its average volume of 247,535. The company has a market capitalization of C$6.61 billion, a price-to-earnings ratio of 28.80, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a debt-to-equity ratio of 5.40, a quick ratio of 0.65 and a current ratio of 0.30. The stock has a 50-day moving average of C$28.45 and a 200-day moving average of C$27.90. PrairieSky Royalty has a 12-month low of C$21.22 and a 12-month high of C$30.66.

PrairieSky Royalty (TSE:PSK) last posted its quarterly earnings results on Monday, October 28th. The company reported C$0.20 EPS for the quarter. PrairieSky Royalty had a return on equity of 8.37% and a net margin of 46.81%. During the same period in the previous year, the firm posted $0.23 EPS.

Insiders Place Their Bets

In other PrairieSky Royalty news, Senior Officer Andrew Phillips purchased 4,436 shares of PrairieSky Royalty stock in a transaction on Tuesday, December 10th. The stock was bought at an average cost of C$28.60 per share, with a total value of C$126,884.68. Corporate insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas.