Skeena Resources (TSE:SKE) Trading Up 8.5% Following Analyst Upgrade

Skeena Resources Limited (TSE:SKE) shares shot up 8.5% during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from C$18.00 to C$20.00. BMO Capital Markets currently has an outperform rating on the stock. Skeena Resources traded as high as C$6.38 and last traded at C$6.37. 76,467 shares changed hands during trading, a decline of 75% from the average session volume of 308,158 shares. The stock had previously closed at C$5.87.

Other equities analysts have also issued reports about the stock. Raymond James lifted their price objective on shares of Skeena Resources from C$13.00 to C$14.00 in a report on Tuesday, April 23rd. Canaccord Genuity Group lifted their price target on Skeena Resources from C$14.75 to C$17.00 in a report on Tuesday, April 23rd. Scotiabank decreased their price objective on Skeena Resources from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Desjardins lifted their target price on Skeena Resources from C$19.75 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of C$16.67.

Insider Transactions at Skeena Resources

In other news, Senior Officer Randy Reichert sold 53,100 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of C$6.30, for a total transaction of C$334,476.90. Corporate insiders own 1.79% of the company’s stock.

Skeena Resources Stock Performance

The company has a quick ratio of 1.55, a current ratio of 3.86 and a debt-to-equity ratio of 26.00. The firm has a market cap of C$601.16 million, a PE ratio of -5.13 and a beta of 1.68. The firm has a 50-day moving average price of C$6.40 and a two-hundred day moving average price of C$6.06.

Skeena Resources (TSE:SKE) last posted its quarterly earnings results on Friday, May 10th. The company reported C($0.30) earnings per share for the quarter, missing the consensus estimate of C($0.06) by C($0.24). Research analysts forecast that Skeena Resources Limited will post -0.4862973 EPS for the current fiscal year.

About Skeena Resources

Skeena Resources Limited explores for and develops mineral properties in Canada. The company explores for gold, silver, copper, and other precious metal deposits. It holds 100% interests in the Snip gold mine comprising one mining lease and nine mineral tenures that covers an area of approximately 4,724 hectares; and the Eskay Creek gold mine that consists of eight mineral leases, two surface leases, and various unpatented mining claims comprising 7,666 hectares located in British Columbia, Canada.