PrairieSky Royalty (TSE:PSK) Upgraded to Buy at TD Securities

PrairieSky Royalty (TSE:PSK - Get Free Report) was upgraded by analysts at TD Securities from a "hold" rating to a "buy" rating in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage currently has a C$27.00 target price on the stock. TD Securities' target price points to a potential upside of 17.65% from the stock's current price.

A number of other research analysts have also recently commented on PSK. Scotiabank upgraded shares of PrairieSky Royalty to a "hold" rating in a research report on Wednesday, March 19th. National Bankshares lifted their target price on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a "sector perform" rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, PrairieSky Royalty presently has a consensus rating of "Moderate Buy" and a consensus price target of C$30.44.

PrairieSky Royalty Price Performance

Shares of PSK traded up C$0.24 during midday trading on Wednesday, reaching C$22.95. The stock had a trading volume of 470,913 shares, compared to its average volume of 406,970. 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 company has a market capitalization of C$5.47 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company's 50-day moving average is C$26.00 and its 200 day moving average is C$27.51. PrairieSky Royalty has a 12-month low of C$21.97 and a 12-month high of C$30.66.

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.