BMO Capital Markets Increases PrairieSky Royalty (TSE:PSK) Price Target to C$34.00

PrairieSky Royalty (TSE:PSK) had its price target lifted by equities research analysts at BMO Capital Markets from C$32.00 to C$34.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 14.86% from the company’s current price.

PSK has been the subject of a number of other reports. Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. Raymond James Financial upgraded PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and boosted their price target for the company from C$30.00 to C$35.00 in a report on Tuesday, December 9th. National Bankshares increased their price objective on PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 3rd. TD Securities lifted their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Scotiabank boosted their target price on shares of PrairieSky Royalty from C$29.00 to C$30.00 and gave the company a “sector perform” rating in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$31.57.

PrairieSky Royalty Trading Down 2.3%

PrairieSky Royalty stock traded down C$0.71 during trading hours on Tuesday, reaching C$29.60. The company had a trading volume of 255,615 shares, compared to its average volume of 389,586. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. The company has a 50-day moving average price of C$27.65 and a 200 day moving average price of C$25.99. The firm has a market cap of C$6.89 billion, a price-to-earnings ratio of 31.83, a P/E/G ratio of 0.47 and a beta of 0.79. PrairieSky Royalty has a 12-month low of C$21.97 and a 12-month high of C$30.69.

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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.