PrairieSky Royalty (TSE:PSK) Stock Price Crosses Below Fifty Day Moving Average – Time to Sell?
by Teresa Graham · The Cerbat GemPrairieSky Royalty Ltd. (TSE:PSK – Get Free Report)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$26.73 and traded as low as C$25.84. PrairieSky Royalty shares last traded at C$25.89, with a volume of 449,235 shares traded.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. Natl Bk Canada upgraded shares of PrairieSky Royalty from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. National Bankshares upgraded shares of PrairieSky Royalty from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$32.00 to C$33.00 in a report on Tuesday, October 21st. Raymond James Financial raised shares of PrairieSky Royalty from a “hold” rating to a “moderate buy” rating and lifted their price target for the stock from C$30.00 to C$35.00 in a research report on Tuesday, December 9th. Finally, Scotiabank upped their price objective on shares of PrairieSky Royalty from C$28.00 to C$29.00 and gave the company a “sector perform” rating in a research report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$29.50.
Read Our Latest Stock Analysis on PrairieSky Royalty
PrairieSky Royalty Stock Down 0.8%
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 firm’s fifty day simple moving average is C$26.73 and its 200 day simple moving average is C$25.24. The stock has a market capitalization of C$6.02 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 0.47 and a beta of 0.74.
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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.