PrairieSky Royalty (TSE:PSK) Share Price Crosses Below 200 Day Moving Average - What's Next?

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.75 and traded as low as C$26.34. PrairieSky Royalty shares last traded at C$26.37, with a volume of 279,259 shares trading hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. National Bankshares boosted their target price on PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a "sector perform" rating in a report on Thursday, January 30th. Scotiabank raised shares of PrairieSky Royalty to a "hold" rating in a research report on Wednesday, March 19th. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$30.67.

PrairieSky Royalty Stock Performance

The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The stock has a fifty day simple moving average of C$26.78 and a two-hundred day simple moving average of C$27.73. The stock has a market cap of C$6.24 billion, a PE ratio of 28.98, a PEG ratio of 0.47 and a beta of 1.78.

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.