The stock of PrairieSky Royalty Ltd (TSE:PSK) hit a new 52-week high and has $39.06 target or 33.00% above today’s $29.37 share price. The 5 months bullish chart indicates low risk for the $6.71B company. The 1-year high was reported on Oct, 18 by Barchart.com. If the $39.06 price target is reached, the company will be worth $2.21B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 52,594 shares traded hands. PrairieSky Royalty Ltd (TSE:PSK) has risen 16.32% since March 11, 2016 and is uptrending. It has outperformed by 10.83% the S&P500.
PrairieSky Royalty Ltd (TSE:PSK) Ratings Coverage
Out of 6 analysts covering Prairiesky Royalty (TSE:PSK), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $36 is the highest target while $21 is the lowest. The $28.50 average target is -2.96% below today’s ($29.37) stock price. Prairiesky Royalty has been the topic of 21 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “” rating given on Monday, June 6 by Raymond James. As per Wednesday, November 25, the company rating was maintained by RBC Capital Markets. As per Tuesday, January 12, the company rating was downgraded by Dundee Securities. The firm earned “Market Perform” rating on Friday, February 12 by BMO Capital Markets.
More notable recent PrairieSky Royalty Ltd (TSE:PSK) news were published by: Business.Financialpost.com which released: “PrairieSky Royalty Ltd’s land base seeing lots of activity” on September 12, 2016, also Marketwired.com with their article: “Canadian Natural Resources Limited Completes the Distribution of PrairieSky …” published on June 07, 2016, Business.Financialpost.com published: “Canadian Natural Resources Ltd sells most of its royalty lands to PrairieSky …” on November 09, 2015. More interesting news about PrairieSky Royalty Ltd (TSE:PSK) were released by: Theglobeandmail.com and their article: “The Globe and Mail” published on June 01, 2014 as well as Business.Financialpost.com‘s news article titled: “PrairieSky Royalty Ltd earnings sink on low oil and gas prices” with publication date: April 27, 2015.
PrairieSky Royalty Ltd. is a Canada company, which holds a portfolio of fee simple mineral title, and gas and oil royalty interests in Canada. The company has a market cap of $6.71 billion. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. It has a 243.86 P/E ratio. The Company’s assets include the Fee Lands, encompassing approximately 8.8 million acres; the GORR Interests, encompassing approximately 6.6 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 40,010 kilometers of two dimensional seismic and over 10,760 square kilometers of three dimensional seismic.
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