PrairieSky Royalty (TSE:PSK) Sets New 52-Week Low – Here’s Why

PrairieSky Royalty Ltd. (TSE:PSK)’s stock price hit a new 52-week low during trading on Thursday . The stock traded as low as C$21.97 and last traded at C$24.26, with a volume of 763116 shares trading hands. The stock had previously closed at C$22.40.

Wall Street Analysts Forecast Growth

PSK has been the subject of several recent research reports. National Bankshares upped their price target on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. TD Securities upgraded shares of PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 price target for the company in a research report on Wednesday. Finally, Scotiabank upgraded shares of PrairieSky Royalty to a “hold” rating in a research report on Wednesday, March 19th. Five 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. According to data from MarketBeat.com, PrairieSky Royalty has an average rating of “Moderate Buy” and an average target price of C$30.78.

PrairieSky Royalty Stock Performance

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’s 50-day moving average price is C$26.19 and its two-hundred day moving average price is C$27.58. The company has a market capitalization of C$5.79 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 0.47 and a beta of 1.78.

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.