Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Akanksha Bakshi

RBC Capital Bumps Up PrairieSky Royalty Price Target By 5%

RBC Capital BC TSX
  • PrairieSky Royalty Ltd (TSX:PSK) (OTC:PREKF) price target has been raised to C$22 from C$21 by RBC Capital analyst Luke Davis.
  • The analyst maintained the Sector Perform rating on the shares.    
  • Davis states that PrairieSky posted strong 1Q22 volumes, with oil/liquids trending favorably on increased industry activity.
  • He further adds that leasing has been consistent, reaching record levels during the quarter.
  • Davis believes that this will continue to organically push royalty volumes higher through the balance of the year.
  • The analyst mentions that PrairieSky directly benefits given geographic/play diversification with royalty assets spanning from BC to Manitoba. The company signed 52 new leases during the quarter with 43 different counterparties.
  • Price Action: PSK shares are trading lower by 1.93% at C$18.83 on TSX, and PREKF is lower by 1.82% at $14.93 on the last check Tuesday.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Alec Baldwin says he ‘wasn’t very fun’ filming his reality show with his wife and seven kids
The actor’s TLC series, ‘The Baldwins’, will be released in January
The Independent UK
The Independent UK
'The Ultimatum' Season 3: Everything We Know
The 'Love Is Blind' sister show follows six couples through a brutal test of commitment.
Marie Claire
Marie Claire
Squid Game creator says he changed the ending of the Netflix show halfway through: "This is not where the story should be headed"
He also explains why it has to end with season 3
Total Film
Total Film
The New 'Alien' TV Show Just Pulled a Clever Canon Trick
'Alien: Earth' is keeping the origin of the creatures familiar, allowing fans to focus on scares rather than math.
Inverse
Inverse
The Simpsons Hit & Run has quietly been the arena for an incredible 10-year speedrunning gauntlet, dominated by one runner who broke 45 records in a row
He's a lean, green speed-thingy
GamesRadar
GamesRadar
Squid Game season 2's star Lee Jung-jae says he felt "horror" stepping back into the arena on the Netflix show: "It's a kind of feeling that I would never forget in my life"
The actor says he had "mixed feelings" about returning
Total Film
Total Film
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play