PrairieSky Royalty (PSK) Gets a Buy Rating from CIBC

By Carrie Williams

Shares of PrairieSky Royalty (PSKResearch Report) were revisited by a Wall Street analyst today. Analyst Jamie Kubik from CIBC rated PrairieSky Royalty (PSKResearch Report) a Buy, setting a C$21 price target.

According to TipRanks.com, Kubik is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -19.4% and a 21.8% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, Freehold Royalties Ltd, and PrairieSky Royalty Ltd.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PrairieSky Royalty with a C$22.05 average price target.

The company has a one-year high of C$25.88 and a one-year low of C$15.71. Currently, PrairieSky Royalty has an average volume of 374.5K.

PrairieSky Royalty Ltd. engages in the acquisition and management of royalty lands, in order to generate significant free cash flow through indirect third-party oil and gas investments. It offers its owned portfolio of royalty lands in Canada. The company was founded on November 27, 2013 and is headquartered in Calgary, Canada.

The company’s shares closed on Thursday at C$18.25.