PrairieSky Royalty Ltd (TSE:PSK) had its target price raised by equities research analysts at CIBC from C$30.00 to C$33.00 in a research note issued to investors on Wednesday. CIBC’s price target would suggest a potential upside of 11.19% from the company’s current price.
A number of other equities analysts have also commented on the stock. Royal Bank Of Canada boosted their price objective on shares of PrairieSky Royalty from C$28.00 to C$29.00 in a report on Thursday, October 13th. RBC Capital Markets boosted their price objective on shares of PrairieSky Royalty from C$28.00 to C$29.00 in a report on Thursday, October 13th. Barclays PLC boosted their price objective on shares of PrairieSky Royalty from C$28.00 to C$29.00 in a report on Tuesday, October 11th. Raymond James Financial Inc. boosted their price objective on shares of PrairieSky Royalty from C$28.00 to C$30.00 and gave the stock an “outperform” rating in a report on Monday, September 12th. Finally, FirstEnergy Capital upgraded shares of PrairieSky Royalty from a “market perform” rating to an “outperform” rating in a report on Thursday, July 28th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of C$28.08.
PrairieSky Royalty (TSE:PSK) traded up 2.27% on Wednesday, reaching $29.68. The company had a trading volume of 274,608 shares. The stock has a 50 day moving average price of $27.10 and a 200 day moving average price of $25.58. The stock has a market capitalization of $6.79 billion and a PE ratio of 333.48. PrairieSky Royalty has a 52-week low of $17.15 and a 52-week high of $29.83.
The firm also recently disclosed a monthly dividend, which was paid on Monday, October 17th. Investors of record on Monday, October 17th were given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Wednesday, September 28th.
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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