Skeena Resources (TSE:SKE) Sets New 12-Month High After Analyst Upgrade

Skeena Resources Limited (TSE:SKE) hit a new 52-week high during mid-day trading on Monday after CIBC raised their price target on the stock from C$19.00 to C$26.00. The stock traded as high as C$23.62 and last traded at C$22.80, with a volume of 177637 shares. The stock had previously closed at C$22.35.

A number of other equities research analysts also recently commented on SKE. Royal Bank Of Canada increased their price objective on Skeena Resources from C$23.00 to C$26.00 and gave the company an “outperform” rating in a research report on Monday, June 23rd. Raymond James Financial increased their price objective on Skeena Resources from C$18.50 to C$21.00 in a research report on Friday, April 4th.

Insiders Place Their Bets

In related news, Senior Officer Andrew Macritchie sold 36,191 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of C$17.55, for a total value of C$635,206.34. Also, Senior Officer Randy Reichert sold 19,094 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of C$15.62, for a total transaction of C$298,338.02. Insiders have sold 105,177 shares of company stock valued at $1,779,152 in the last quarter. 1.51% of the stock is currently owned by insiders.

Skeena Resources Trading Up 1.7%

The company has a debt-to-equity ratio of 19.27, a current ratio of 1.87 and a quick ratio of 1.55. The business’s 50-day moving average price is C$19.59 and its two-hundred day moving average price is C$16.51. The company has a market capitalization of C$2.49 billion, a P/E ratio of -13.72 and a beta of 1.65.

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.