Insider Buying: PrairieSky Royalty Ltd. (TSE:PSK) Director Buys 1,000 Shares of Stock

PrairieSky Royalty Ltd. (TSE:PSK) Director Anuroop Duggal purchased 1,000 shares of the stock in a transaction on Thursday, April 17th. The stock was acquired at an average price of C$23.57 per share, with a total value of C$23,565.00.

PrairieSky Royalty Stock Performance

Shares of PSK stock opened at C$23.49 on Friday. The firm has a market cap of C$5.60 billion, a PE ratio of 26.02, a P/E/G ratio of 0.47 and a beta of 1.78. PrairieSky Royalty Ltd. has a 12 month low of C$21.97 and a 12 month high of C$30.66. The company’s fifty day simple moving average is C$25.61 and its 200-day simple moving average is C$27.36. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PSK. CIBC decreased their price objective on PrairieSky Royalty from C$31.50 to C$28.00 in a research report on Thursday, April 10th. Scotiabank raised shares of PrairieSky Royalty to a “hold” rating in a research report on Wednesday, March 19th. National Bankshares boosted 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 report on Thursday, January 30th. Finally, TD Securities raised shares of PrairieSky Royalty from a “hold” rating to a “buy” rating and set a C$27.00 target price for the company in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of C$30.75.

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.