PrairieSky Royalty (TSE:PSK) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

PrairieSky Royalty Ltd. (TSE:PSK) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.78 and traded as low as C$25.84. PrairieSky Royalty shares last traded at C$26.11, with a volume of 192,769 shares changing hands.

Wall Street Analyst Weigh In

Separately, National Bankshares increased their price target on PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$30.67.

PrairieSky Royalty Price Performance

The stock has a fifty day moving average price of C$27.05 and a 200-day moving average price of C$27.78. The company has a market cap of C$6.23 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65.

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.