National Bank Financial Cuts PrairieSky Royalty Ltd (PSK) Price Target to C$28.00

PrairieSky Royalty Ltd (TSE:PSK) had its price target reduced by analysts at National Bank Financial from C$29.00 to C$28.00 in a research report issued on Friday. The firm presently has a “sector perform” rating on the stock. National Bank Financial’s target price points to a potential downside of 10.43% from the company’s current price.

A number of other research analysts also recently commented on the company. BMO Capital Markets increased their price target on PrairieSky Royalty from C$30.00 to C$35.00 in a report on Tuesday. GMP Securities increased their price target on PrairieSky Royalty from C$30.00 to C$31.00 in a report on Wednesday, July 26th. Royal Bank Of Canada reduced their price target on PrairieSky Royalty from C$38.00 to C$34.00 in a report on Thursday, July 20th. Finally, TD Securities downgraded PrairieSky Royalty from a “buy” rating to a “hold” rating and reduced their price target for the company from C$33.00 to C$32.00 in a report on Monday, October 2nd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of C$33.80.

PrairieSky Royalty (TSE:PSK) last issued its earnings results on Monday, July 24th. The company reported C$0.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$0.08 by C$0.09. PrairieSky Royalty had a return on equity of 5.85% and a net margin of 39.63%. The company had revenue of C$102.20 million during the quarter.

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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. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 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 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.

Analyst Recommendations for PrairieSky Royalty (TSE:PSK)

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