BMO Capital Markets Forecasts Strong Price Appreciation for PrairieSky Royalty (TSE:PSK) Stock

by · The Markets Daily

PrairieSky Royalty (TSE:PSK – Get Free Report) had its price objective upped by stock analysts at BMO Capital Markets from C$39.00 to C$40.00 in a research report issued on Tuesday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets‘s price objective would indicate a potential upside of 7.99% from the stock’s previous close.

PSK has been the topic of a number of other research reports. Royal Bank Of Canada boosted their price target on PrairieSky Royalty from C$38.00 to C$39.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Scotia upped their price objective on shares of PrairieSky Royalty from C$36.00 to C$37.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, National Bank Financial upped their target price on shares of PrairieSky Royalty from C$42.00 to C$43.00 and gave the stock an “outperform” rating in a report on Tuesday, October 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$36.93.

Check Out Our Latest Stock Analysis on PrairieSky Royalty

PrairieSky Royalty Price Performance

PrairieSky Royalty stock traded up C$0.34 during mid-day trading on Tuesday, reaching C$37.04. 469,688 shares of the company’s stock traded hands, compared to its average volume of 494,021. The company has a market cap of C$8.61 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 0.47 and a beta of 0.82. PrairieSky Royalty has a 12-month low of C$24.76 and a 12-month high of C$38.08. The company has a quick ratio of 0.65, a current ratio of 0.90 and a debt-to-equity ratio of 6.88. The stock has a 50 day moving average of C$35.28 and a two-hundred day moving average of C$32.85.

PrairieSky Royalty (TSE:PSK – Get Free Report) last released its earnings results on Monday, October 26th. The company reported C$0.36 earnings per share for the quarter. The business had revenue of C$165.00 million for the quarter. PrairieSky Royalty had a return on equity of 9.48% and a net margin of 44.86%.

Insider Buying and Selling at PrairieSky Royalty

In related news, insider Andrew Phillips purchased 3,500 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were bought at an average price of C$33.26 per share, with a total value of C$116,410.00. Following the completion of the purchase, the insider directly owned 93,500 shares in the company, valued at approximately C$3,109,810. This trade represents a 3.89% increase in their position. Also, insider Pamela Pearl Kazeil acquired 2,500 shares of the firm’s stock in a transaction on Wednesday, August 5th. The shares were acquired at an average price of C$33.42 per share, with a total value of C$83,550.00. Following the completion of the purchase, the insider owned 3,220 shares of the company’s stock, valued at C$107,612.40. This trade represents a 347.22% increase in their ownership of the stock. Corporate insiders own 0.54% of the company’s stock.

About PrairieSky Royalty

(Get Free Report)

PrairieSky is a royalty-focused company, generating royalty revenues as oil and natural gas are produced from its properties. PrairieSky has a diverse portfolio of properties that have a long history of generating free cash flow and that represent the largest and most concentrated independently-owned fee simple mineral title position in Canada.

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