National Bankshares Forecasts Strong Price Appreciation for PrairieSky Royalty (TSE:PSK) Stock

PrairieSky Royalty (TSE:PSK) had its price target raised by National Bankshares from C$32.00 to C$33.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. National Bankshares’ target price points to a potential upside of 21.95% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. BMO Capital Markets increased their price target on PrairieSky Royalty from C$33.00 to C$34.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. TD Securities increased their target price on PrairieSky Royalty from C$25.00 to C$26.00 and gave the stock a “hold” rating in a research note on Tuesday, October 29th. Atb Cap Markets raised shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 15th. Finally, Raymond James raised shares of PrairieSky Royalty to a “hold” rating in a research note on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$30.67.

PrairieSky Royalty Stock Performance

Shares of TSE:PSK opened at C$27.06 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.65 and a debt-to-equity ratio of 5.40. PrairieSky Royalty has a 12 month low of C$21.22 and a 12 month high of C$30.66. The company has a market capitalization of C$6.47 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 0.47 and a beta of 1.78. The firm’s 50-day moving average is C$28.41 and its 200 day moving average is C$27.91.

Insider Activity

In related news, Senior Officer Andrew Phillips acquired 4,436 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were bought at an average price of C$28.60 per share, with a total value of C$126,884.68. Company insiders own 0.54% of the company’s stock.

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.