Skyharbour Resources (CVE:SYH) Trading 43.1% Higher – Still a Buy?

Shares of Skyharbour Resources Ltd. (CVE:SYH) rose 43.1% during mid-day trading on Saturday . The company traded as high as C$0.47 and last traded at C$0.47. Approximately 7,214,700 shares changed hands during mid-day trading, an increase of 1,130% from the average daily volume of 586,360 shares. The stock had previously closed at C$0.33.

Key Stores Impacting Skyharbour Resources

Here are the key news stories impacting Skyharbour Resources this week:

• Positive Sentiment: The company completed a transaction with Denison Mines and four joint ventures were formed from Skyharbour’s Russell Lake claims — a development that can bring partner funding, technical capacity and potential accelerated exploration activity, which investors typically view as positive for a junior uranium explorer. Denison Mines Forms Joint Ventures With Skyharbour
• Neutral Sentiment: Denison Mines (NYSEAMERICAN:DNN) is a well-known uranium company, so its involvement lends credibility — however, Skyharbour’s specific financial consideration, ownership splits and work commitments under the joint ventures were not detailed in the item, leaving the exact cash/valuation impact on SYH unclear.
• Neutral Sentiment: Market reaction shows heightened interest: intraday volume far exceeded the stock’s average and the share price rose, indicating short‑term buying. Investors should watch for the formal JV agreements and any joint exploration programs or funding schedules that will determine the medium‑term impact on valuation.

Analysts Set New Price Targets

Separately, Fundamental Research set a C$1.12 price target on shares of Skyharbour Resources and gave the company a “buy” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$1.12.

Skyharbour Resources Stock Performance

The company has a 50 day moving average of C$0.35 and a 200 day moving average of C$0.36. The firm has a market cap of C$95.07 million, a P/E ratio of 93.00 and a beta of 1.26.

Skyharbour Resources Company Profile

Skyharbour Resources Ltd. engages in acquisition, exploration, and evaluation of uranium mineral properties. The company holds 51% interest in the Preston Uranium project covering an area of 49,635 hectares; 80% interest in the Hook Lake project consisting of 16 contiguous mineral claims covering an area of 25,847 hectares; and 100% earn-in option to acquire interest in the Yurchison project comprising 13 claims totaling area of 57,407 hectares located in Saskatchewan, Canada. It also holds 100% interest in the South Falcon Point project; and the Moore Lake Uranium project comprising 12 claims totaling area of 35,705 located in Saskatchewan, Canada.