National Bank Financial Raises PrairieSky Royalty Ltd (PSK) Price Target to C$33.00
PrairieSky Royalty Ltd (TSE:PSK) had its price objective boosted by analysts at National Bank Financial from C$28.00 to C$33.00 in a research note issued on Tuesday. National Bank Financial’s target price points to a potential downside of 5.17% from the company’s previous close.
Several other analysts also recently weighed in on the company. BMO Capital Markets raised their target price on PrairieSky Royalty from C$30.00 to C$35.00 in a research note on Tuesday, October 10th. GMP Securities raised their target price on PrairieSky Royalty from C$30.00 to C$31.00 in a research note on Wednesday, July 26th. Royal Bank Of Canada lowered their target price on PrairieSky Royalty from C$38.00 to C$34.00 in a research note on Thursday, July 20th. TD Securities downgraded PrairieSky Royalty from a “buy” rating to a “hold” rating and lowered their target price for the company from C$33.00 to C$32.00 in a research note on Monday, October 2nd. Finally, CIBC raised their target price on PrairieSky Royalty from C$35.00 to C$38.00 in a research note on Tuesday, October 17th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of C$34.90.
Shares of PrairieSky Royalty (PSK) traded down 1.67% during mid-day trading on Tuesday, reaching $34.22. The company’s stock had a trading volume of 767,331 shares. PrairieSky Royalty has a 1-year low of $27.10 and a 1-year high of $34.81. The company’s 50 day moving average price is $31.98 and its 200-day moving average price is $29.91. The company has a market capitalization of $8.10 billion and a price-to-earnings ratio of 93.24.
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About PrairieSky Royalty
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.
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