PrairieSky Royalty (OTCMKTS:PREKF) Trading at $24.45

PrairieSky Royalty Ltd. (OTCMKTS:PREKF)’s share price rose 0% during trading on Monday. The stock traded as high as $24.70 and last traded at $24.4490. Approximately 68,981 shares traded hands during mid-day trading, an increase of 54% from the average daily volume of 44,894 shares. The stock had previously closed at $24.4420.

Analysts Set New Price Targets

PREKF has been the subject of a number of research reports. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of PrairieSky Royalty in a research report on Friday, October 9th. Raymond James Financial restated a “market perform” rating on shares of PrairieSky Royalty in a research report on Wednesday, September 16th. Royal Bank Of Canada restated an “outperform” rating on shares of PrairieSky Royalty in a research note on Wednesday, October 28th. BMO Capital Markets restated an “outperform” rating on shares of PrairieSky Royalty in a research note on Tuesday, October 27th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of PrairieSky Royalty in a research report on Monday, October 19th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, PrairieSky Royalty currently has an average rating of “Moderate Buy”.

PrairieSky Royalty Price Performance

The stock’s 50-day simple moving average is $25.10 and its 200 day simple moving average is $23.99.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd. is a Canadian mineral-rights and royalty company focused primarily on oil and natural gas interests in Alberta. The company owns extensive fee-simple mineral title and leases those rights to exploration and production companies, which develop and operate the underlying properties.

PrairieSky generates revenue through petroleum and natural gas royalties, lease rentals, lease bonuses, and other payments associated with its mineral lands. Because third-party operators generally fund and conduct exploration, drilling, and production activities, PrairieSky’s business model is focused on managing its land and royalty interests rather than directly operating wells.

Established in 2013, PrairieSky is headquartered in Calgary, Alberta, and its mineral-rights portfolio is concentrated in the Western Canadian Sedimentary Basin, particularly Alberta.