Royal Bank of Canada Boosts Skeena Resources (TSE:SKE) Price Target to C$18.00

Skeena Resources (TSE:SKE) had its price target increased by investment analysts at Royal Bank of Canada from C$17.00 to C$18.00 in a note issued to investors on Friday,BayStreet.CA reports. Royal Bank of Canada’s price objective suggests a potential upside of 37.40% from the stock’s previous close.

Several other brokerages also recently weighed in on SKE. CIBC lowered their price target on shares of Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd. Scotiabank lifted their price target on shares of Skeena Resources from C$12.00 to C$13.50 in a report on Monday, August 19th. Finally, Desjardins raised shares of Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$16.96.

Skeena Resources Stock Performance

Shares of TSE SKE opened at C$13.10 on Friday. The company has a current ratio of 2.88, a quick ratio of 1.55 and a debt-to-equity ratio of 10.23. Skeena Resources has a 12-month low of C$4.48 and a 12-month high of C$14.28. The firm has a market capitalization of C$1.40 billion, a price-to-earnings ratio of -8.56 and a beta of 1.65. The firm has a 50 day moving average of C$12.59 and a 200 day moving average of C$9.98.

Insider Transactions at Skeena Resources

In related news, Senior Officer Justin Reed Himmelright sold 7,500 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$10.99, for a total value of C$82,395.00. Also, Senior Officer Andrew Macritchie sold 22,850 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$11.89, for a total transaction of C$271,597.39. Over the last quarter, insiders have sold 107,407 shares of company stock valued at $1,171,233. 1.51% of the stock is currently owned by corporate insiders.

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.