13:10:16 EDT Sat 10 Jun 2023
Enter Symbol
or Name

PrairieSky Royalty Ltd
Symbol PSK
Shares Issued 238,916,037
Close 2023-02-08 C$ 23.18
Recent Sedar Documents

Globe says PrairieSky seen deserving a premium multiple

2023-02-08 07:41 ET - In the News

The Globe and Mail reports in its Wednesday, Feb. 8, edition that RBC Capital analyst Luke Davis is sticking with his "sector perform" call on PrairieSky Royalties. The Globe's David Leeder writes that Mr. Davis bumped his share target up by a loonie to $26. Analysts on average target the shares at $25.60. Mr. Davis says in a note: "PrairieSky's Q4/22 results highlight continued momentum in leasing activity laying the groundwork for a strong 2023. The company closed out 2022 with a material reduction in debt (down $320-million year-over-year), setting the stage for incremental shareholder returns. PrairieSky remains well-positioned to generate material free cash flow through 2023 alongside insulation from industry cost inflation, which we believe warrants a premium multiple." The Globe reported on Nov. 16 that Raymond James analyst Jeremy McCrea had reaffirmed his "outperform" call on PrairieSky when it was worth $21.74. The Globe reported on Jan. 12 that National Bank rated PrairieSky "sector perform." The shares were then going for $22.13. The Globe reported on Jan. 26 that Canaccord Genuity analyst John Bereznicki cut PrairieSky to "hold" from "buy," and said it was "fairly valued." It was then worth $22.55.

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