PrairieSky Royalty (TSE:PSK) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Shares of PrairieSky Royalty Ltd. (TSE:PSK) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$27.75 and traded as low as C$26.34. PrairieSky Royalty shares last traded at C$26.37, with a volume of 279,259 shares.

Analyst Upgrades and Downgrades

PSK has been the topic of a number of research reports. National Bankshares upped their price target on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Scotiabank upgraded PrairieSky Royalty to a “hold” rating in a research note on Wednesday, March 19th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, PrairieSky Royalty presently has a consensus rating of “Moderate Buy” and an average target price of C$30.67.

PrairieSky Royalty Stock Performance

The stock has a market cap of C$6.29 billion, a P/E ratio of 29.21, a price-to-earnings-growth ratio of 0.47 and a beta of 1.78. The company has a current ratio of 0.63, a quick ratio of 0.65 and a debt-to-equity ratio of 3.48. The stock has a 50 day simple moving average of C$26.84 and a 200 day simple moving average of C$27.75.

PrairieSky Royalty Company Profile

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.