RBC Capital analyst Michael Harvey maintained a Buy rating on PrairieSky Royalty (PREKF – Research Report) on January 7 and set a price target of C$35.00. The company’s shares closed last Wednesday at $19.67.
According to TipRanks, Harvey is a 5-star analyst with an average return of 14.2% and a 53.50% success rate. Harvey covers the Energy sector, focusing on stocks such as Paramount Resources, Advantage Energy, and Headwater Exploration.
PrairieSky Royalty has an analyst consensus of Moderate Buy, with a price target consensus of $22.45.
The company has a one-year high of $22.00 and a one-year low of $15.25. Currently, PrairieSky Royalty has an average volume of 22.95K.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PREKF in relation to earlier this year.
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PrairieSky Royalty (PREKF) Company Description:
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.
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