In a report issued on January 19, Tudor Pickering from Tudor Pickering maintained a Hold rating on PrairieSky Royalty (PREKF), with a price target of C$11.00. The company’s shares closed last Wednesday at $9.00.
PrairieSky Royalty has an analyst consensus of Moderate Buy, with a price target consensus of $9.82, implying an 8.2% upside from current levels. In a report issued on January 14, Scotiabank also downgraded the stock to Hold with a C$12.50 price target.
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The company has a one-year high of $11.91 and a one-year low of $4.64. Currently, PrairieSky Royalty has an average volume of 16.46K.
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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. Property arrangements can be contracted as lease issuances, farmouts, drilling commitments, or seismic option agreements.
