BMO Capital Markets Forecasts Strong Price Appreciation for PrairieSky Royalty (TSE:PSK) Stock

PrairieSky Royalty (TSE:PSK) had its price target raised by stock analysts at BMO Capital Markets from C$33.00 to C$34.00 in a research report issued to clients and investors on Tuesday, BayStreet.CA reports. BMO Capital Markets’ price objective indicates a potential upside of 19.09% from the stock’s previous close.

PSK has been the topic of a number of other reports. Atb Cap Markets upgraded PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. TD Securities cut their price target on PrairieSky Royalty from C$26.00 to C$25.00 in a research note on Tuesday, October 1st. National Bankshares raised their price objective on shares of PrairieSky Royalty from C$33.00 to C$37.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Scotiabank boosted their target price on shares of PrairieSky Royalty from C$29.00 to C$31.00 in a research report on Friday, July 12th. Finally, Raymond James upgraded shares of PrairieSky Royalty to a “hold” rating in a research report on Thursday, October 17th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PrairieSky Royalty presently has an average rating of “Hold” and an average target price of C$30.80.

PrairieSky Royalty Stock Up 1.6 %

Shares of PrairieSky Royalty stock opened at C$28.55 on Tuesday. PrairieSky Royalty has a twelve month low of C$21.22 and a twelve month high of C$28.93. The company has a quick ratio of 0.65, a current ratio of 0.30 and a debt-to-equity ratio of 5.40. The company’s 50 day moving average is C$27.59 and its 200 day moving average is C$27.07. The company has a market cap of C$6.82 billion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78.

Insider Transactions at PrairieSky Royalty

In related news, Senior Officer Daniel James Bertram acquired 7,670 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was acquired at an average cost of C$28.20 per share, with a total value of C$216,290.93. Corporate insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

PrairieSky Royalty Ltd., a pure-play royalty company, holds crude oil and natural gas royalty interests in Canada. It holds an interest in approximately 9.7 million acres with petroleum and/or natural gas rights, 8.5 million acres of gross overriding royalty interests, and other acreage. The company was incorporated in 2013 and is based in Calgary, Canada.