PrairieSky Royalty (TSE:PSK) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

PrairieSky Royalty Ltd. (TSE:PSK)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.78 and traded as low as C$25.84. PrairieSky Royalty shares last traded at C$26.11, with a volume of 192,769 shares changing hands.

Analyst Ratings Changes

Separately, National Bankshares raised their price target on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$30.67.

PrairieSky Royalty Stock Performance

The stock has a market cap of C$6.32 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 0.47 and a beta of 1.78. The stock’s fifty day moving average is C$26.97 and its 200-day moving average is C$27.77. The company has a quick ratio of 0.65, a current ratio of 0.63 and a debt-to-equity ratio of 3.48.

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.