PrairieSky Royalty (TSE:PSK) Hits New 1-Year Low – Here’s Why

PrairieSky Royalty Ltd. (TSE:PSK) shares hit a new 52-week low on Friday . The company traded as low as C$23.54 and last traded at C$23.81, with a volume of 384968 shares. The stock had previously closed at C$25.79.

Analyst Ratings Changes

A number of analysts have commented on the stock. National Bankshares upped their price objective on shares of 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 shares of 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of C$30.67.

PrairieSky Royalty Trading Down 7.5 %

The firm has a market capitalization of C$5.69 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.63 and a quick ratio of 0.65. The company has a fifty day moving average of C$26.60 and a 200-day moving average of C$27.68.

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.