PrairieSky Royalty Ltd. (OTCMKTS:PREKF) Receives Average Rating of “Moderate Buy” from Brokerages

PrairieSky Royalty Ltd. (OTCMKTS:PREKF) has earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company.

Several equities research analysts have recently issued reports on PREKF shares. Scotiabank reiterated a “sector perform” rating on shares of PrairieSky Royalty in a report on Friday, July 17th. BMO Capital Markets restated an “outperform” rating on shares of PrairieSky Royalty in a report on Friday, May 29th. Raymond James Financial reaffirmed a “market perform” rating on shares of PrairieSky Royalty in a research report on Wednesday, September 16th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of PrairieSky Royalty in a research note on Friday, July 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of PrairieSky Royalty in a research report on Wednesday, July 15th.

PrairieSky Royalty Stock Performance

Shares of OTCMKTS PREKF opened at $23.70 on Wednesday. PrairieSky Royalty has a one year low of $17.09 and a one year high of $28.07. The business’s 50-day moving average price is $25.32 and its two-hundred day moving average price is $24.26.

About PrairieSky Royalty

PrairieSky Royalty Ltd. is a Canadian royalty company that owns and manages mineral title lands, primarily in the Western Canadian Sedimentary Basin. Rather than exploring for or producing resources itself, the company grants exploration and development rights to oil and natural gas producers and other resource companies.

PrairieSky generates revenue through royalties, lease payments, rentals, bonuses and other fees associated with the development of its lands. Its mineral interests include rights relating to oil, natural gas, natural gas liquids and other minerals, allowing the company to participate in resource activity without directly funding drilling, production or operating costs.

Established in 2013 and headquartered in Calgary, Alberta, PrairieSky serves resource operators across Western Canada, with its land holdings concentrated primarily in Alberta and extending into other parts of the region.