PrairieSky Royalty (TSE:PSK) Shares Cross Above Fifty Day Moving Average – Should You Sell?
by Mitch Edgeman · The Markets DailyPrairieSky Royalty Ltd. (TSE:PSK – Get Free Report) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$31.39 and traded as high as C$32.01. PrairieSky Royalty shares last traded at C$31.46, with a volume of 707,175 shares changing hands.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on PSK shares. TD Securities boosted their price target on shares of PrairieSky Royalty from C$30.00 to C$33.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Scotiabank raised their target price on shares of PrairieSky Royalty from C$30.00 to C$31.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 10th. Raymond James Financial cut PrairieSky Royalty from a “moderate buy” rating to a “hold” rating and boosted their target price for the stock from C$35.00 to C$35.50 in a report on Monday, March 30th. BMO Capital Markets upped their price target on PrairieSky Royalty from C$32.00 to C$34.00 and gave the company an “outperform” rating in a research report on Tuesday, February 10th. Finally, National Bank Financial lifted their target price on shares of PrairieSky Royalty from C$32.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$32.25.
Check Out Our Latest Analysis on PSK
PrairieSky Royalty Trading Down 1.9%
The firm has a market cap of C$7.18 billion, a price-to-earnings ratio of 35.46, a price-to-earnings-growth ratio of 0.47 and a beta of 0.50. The company has a debt-to-equity ratio of 9.54, a quick ratio of 0.65 and a current ratio of 0.64. The company has a 50 day moving average price of C$31.40 and a 200 day moving average price of C$28.37.
Insider Buying and Selling at PrairieSky Royalty
In related news, Director Margaret Anne Mckenzie purchased 8,400 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was acquired at an average cost of C$29.92 per share, for a total transaction of C$251,328.00. Following the completion of the transaction, the director directly owned 68,850 shares in the company, valued at approximately C$2,059,992. The trade was a 13.90% increase in their ownership of the stock. 0.54% of the stock is currently owned by corporate insiders.
PrairieSky Royalty Company Profile
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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.