Skeena Resources (TSE:SKE) Sets New 52-Week High After Analyst Upgrade

Skeena Resources Limited (TSE:SKE)’s stock price reached a new 52-week high during mid-day trading on Friday 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$7.48 and last traded at C$7.31, with a volume of 291678 shares. The stock had previously closed at C$6.62.

Several other brokerages have also commented on SKE. Canaccord Genuity Group boosted their price target on Skeena Resources from C$14.75 to C$17.00 in a research note on Tuesday, April 23rd. Desjardins upped their price objective on shares of Skeena Resources from C$19.75 to C$20.00 and gave the stock a “buy” rating in a research note on Wednesday. Scotiabank cut their target price on shares of 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, Raymond James increased their price target on Skeena Resources from C$13.00 to C$14.00 in a research report on Tuesday, April 23rd. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$16.67.

Insider Activity at Skeena Resources

In related news, Senior Officer Randy Reichert sold 53,100 shares of Skeena Resources stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of C$6.30, for a total transaction of C$334,476.90. 1.79% of the stock is currently owned by company insiders.

Skeena Resources Trading Up 10.9 %

The firm has a market capitalization of C$666.55 million, a P/E ratio of -5.69 and a beta of 1.68. The business has a 50 day moving average of C$6.42 and a 200-day moving average of C$6.08. The company has a current ratio of 3.86, a quick ratio of 1.55 and a debt-to-equity ratio of 26.00.

Skeena Resources (TSE:SKE) last posted its quarterly earnings data 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). Analysts anticipate that Skeena Resources Limited will post -0.4862973 EPS for the current fiscal year.

Skeena Resources Company Profile

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.