In a new note to investors yesterday, an analyst has provided a rating update for the Materials sector company, PrairieSky Royalty (TSX: PSK). RBC Capital’s analyst Shailender Randhawa reiterates their Buy rating on the shares, with a C$32 price target.
According to TipRanks.com, Randhawa is ranked #3797 out of 4879 analysts.
PrairieSky Royalty has an analyst consensus of Moderate Buy, with a price target consensus of C$31.20.
Based on PrairieSky Royalty’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of C$25.1 million. In comparison, last year the company had a net profit of C$40.5 million.
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$22.86, close to its 52-week low of C$22.80.
