PrairieSky Royalty (TSE:PSK) Shares Cross Below 200-Day Moving Average – What’s Next?

Shares of PrairieSky Royalty Ltd. (TSE:PSK) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$27.70 and traded as low as C$25.73. PrairieSky Royalty shares last traded at C$25.79, with a volume of 861,430 shares.

Analyst Upgrades and Downgrades

PSK has been the subject of a number of research analyst reports. National Bankshares boosted their target price on PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Scotiabank upgraded PrairieSky Royalty to a “hold” rating in a research report on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, PrairieSky Royalty has an average rating of “Moderate Buy” and a consensus target price of C$30.67.

PrairieSky Royalty Trading Down 7.5 %

The stock has a market cap of C$5.69 billion, a price-to-earnings ratio of 26.43, a P/E/G ratio of 0.47 and a beta of 1.78. The business has a 50-day simple moving average of C$26.60 and a two-hundred day simple moving average of C$27.68. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63.

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.