PrairieSky Royalty Ltd (PSK) Given New C$29.00 Price Target at RBC Capital Markets
PrairieSky Royalty Ltd (TSE:PSK) had its price target increased by research analysts at RBC Capital Markets from C$28.00 to C$29.00 in a note issued to investors on Thursday. RBC Capital Markets’ price objective suggests a potential upside of 1.75% from the company’s current price.
Several other research firms also recently issued reports on PSK. Barclays PLC upped their price objective on shares of PrairieSky Royalty from C$26.00 to C$28.00 in a report on Friday, July 22nd. BMO Capital Markets upped their price objective on shares of PrairieSky Royalty from C$25.50 to C$27.00 in a report on Thursday, June 30th. Raymond James Financial Inc. upped their price objective on shares of PrairieSky Royalty from C$28.00 to C$30.00 and gave the company an “outperform” rating in a report on Monday, September 12th. AltaCorp Capital downgraded shares of PrairieSky Royalty from an “outperform” rating to a “sector perform” rating in a report on Thursday, July 7th. Finally, TD Securities restated a “buy” rating and set a C$31.00 price objective on shares of PrairieSky Royalty in a report on Tuesday, July 26th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. PrairieSky Royalty presently has a consensus rating of “Hold” and a consensus price target of C$27.92.
Shares of PrairieSky Royalty (TSE:PSK) traded up 0.18% on Thursday, hitting $28.55. 239,260 shares of the company traded hands. The firm has a market capitalization of $6.53 billion and a P/E ratio of 320.79. PrairieSky Royalty has a 1-year low of $17.15 and a 1-year high of $28.95. The firm’s 50-day moving average is $26.82 and its 200 day moving average is $25.45.
The business also recently disclosed a monthly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 17th will be given a $0.06 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.72 annualized dividend and a yield of 2.53%.
About PrairieSky Royalty
PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. The Company’s assets include the Fee Lands, encompassing approximately 8.8 million acres; the GORR Interests, encompassing approximately 6.6 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 40,010 kilometers of two dimensional seismic and over 10,760 square kilometers of three dimensional seismic.
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