PrairieSky Royalty (PSK) Receives a Buy from CIBC

By Ryan Adsit

A Wall Street analyst has provided a review for the Materials company on May 22, but retained the same rating on the stock. Analyst Jamie Kubik remains bullish on PrairieSky Royalty (PSKResearch Report) and has a C$23 price target.

According to TipRanks.com, Kubik is ranked 0 out of 5 stars with an average return of -18.3% and a 22.7% success rate. Kubik covers the Basic Materials sector, focusing on stocks such as Paramount Resources Ltd, PrairieSky Royalty Ltd, and Pengrowth Energy Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PrairieSky Royalty with a C$23.17 average price target, which is a 30.8% upside from current levels. In a report issued on May 24, RBC Capital also maintained a Buy rating on the stock with a C$24 price target.

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PrairieSky Royalty’s market cap is currently C$4.14B and has a P/E ratio of 47.9. The company has a Price to Book ratio of 1.63.

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 Friday at C$17.72.