Scotiabank Forecasts Strong Price Appreciation for Skeena Resources (TSE:SKE) Stock

Skeena Resources (TSE:SKE) had its price objective lifted by equities researchers at Scotiabank from C$13.50 to C$14.00 in a research report issued on Wednesday,BayStreet.CA reports. Scotiabank’s price objective suggests a potential upside of 5.90% from the company’s previous close. Scotiabank also issued estimates for Skeena Resources’ FY2024 earnings at ($1.67) EPS, FY2025 earnings at ($0.59) EPS and FY2026 earnings at ($0.64) EPS.

Several other brokerages have also recently commented on SKE. CIBC dropped their price target on Skeena Resources from C$17.00 to C$16.00 in a research report on Monday, December 2nd. Desjardins raised shares of Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price target on shares of Skeena Resources from C$17.00 to C$18.00 in a research note on Friday, December 6th.

Skeena Resources Price Performance

TSE:SKE opened at C$13.22 on Wednesday. The stock has a 50 day moving average of C$12.87 and a two-hundred day moving average of C$11.33. Skeena Resources has a 12 month low of C$4.48 and a 12 month high of C$14.70. The firm has a market cap of C$1.41 billion, a P/E ratio of -8.64 and a beta of 1.65. The company has a current ratio of 2.88, a quick ratio of 1.55 and a debt-to-equity ratio of 10.23.

Insider Buying and Selling at Skeena Resources

In other news, Director Craig Andrew Parry sold 70,000 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of C$10.58, for a total value of C$740,509.00. 1.51% of the stock is currently owned by insiders.

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.