PrairieSky Royalty (TSE:PSK) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

PrairieSky Royalty Ltd. (TSE:PSK) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$27.75 and traded as low as C$26.34. PrairieSky Royalty shares last traded at C$26.37, with a volume of 279,259 shares traded.

Analyst Upgrades and Downgrades

PSK has been the subject of several research analyst reports. National Bankshares boosted their price objective on shares of PrairieSky Royalty from C$32.00 to C$33.00 and gave the company a “sector perform” rating in a research report on Thursday, January 30th. Scotiabank raised PrairieSky Royalty to a “hold” rating in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$30.67.

PrairieSky Royalty Stock Performance

The company has a market cap of C$6.29 billion, a price-to-earnings ratio of 29.21, a P/E/G ratio of 0.47 and a beta of 1.78. The company has a debt-to-equity ratio of 3.48, a quick ratio of 0.65 and a current ratio of 0.63. The company has a fifty day moving average of C$26.84 and a two-hundred day moving average of C$27.75.

PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd is the owner of subsurface mineral rights on a variety of royalty properties in western Canada. The company encourages third parties to develop these properties, while also seeking additional petroleum and natural gas royalty assets. Once PrairieSky has given a third party the right to explore, develop, or produce on its properties, the company collects royalty revenue from the development of petroleum and natural gas.