PrairieSky Royalty Got Some Good News

By Austin Angelo

The Materials sector company, PrairieSky Royalty (TSX: PSK), has received a rating update from a Wall Street analyst today. Michael Harvey, an analyst with RBC Capital, has upgraded their rating on PSK to Buy , with a C$38 price target.

According to TipRanks.com, Harvey is ranked #520 out of 4567 analysts.

Currently, the analyst consensus on PrairieSky Royalty is Moderate Buy and the average price target is C$34.39, representing a 16.0% upside.

In a report issued on May 22, Canaccord Genuity also reiterated a Buy rating on the stock with a C$34 price target.

The company has a one year high of C$34.32 and a one year low of C$22.91. Currently, PrairieSky Royalty has an average volume of 509.2K.

PrairieSky Royalty Ltd. engages in collecting royalties from petroleum and natural gas production on its vast fee-simple and gross overriding royalty lands. The company was founded on November 27, 2013 and is headquartered in Calgary, Canada.

The company’s shares closed last Thursday at $29.64.