PrairieSky Royalty (TSE:PSK) Stock Price Passes Below 200 Day Moving Average - Here's What Happened

PrairieSky Royalty Ltd. (TSE:PSK - Get Free Report) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.92 and traded as low as C$27.14. PrairieSky Royalty shares last traded at C$27.32, with a volume of 324,245 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. TD Securities increased their price objective on PrairieSky Royalty from C$25.00 to C$26.00 and gave the company a "hold" rating in a research note on Tuesday, October 29th. BMO Capital Markets raised their price target on PrairieSky Royalty from C$33.00 to C$34.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, October 29th. Finally, National Bankshares raised their price target on PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock 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 given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of C$30.67.

PrairieSky Royalty Stock Down 1.0 %

The firm has a market capitalization of C$6.46 billion, a price-to-earnings ratio of 30.02, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The firm has a 50 day moving average price of C$27.86 and a two-hundred day moving average price of C$27.90.

Insider Activity

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

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.