Skeena Resources (TSE:SKE) Reaches New 1-Year High Following Analyst Upgrade

Skeena Resources Limited (TSE:SKE) shares hit a new 52-week high during trading on Monday after Scotiabank raised their price target on the stock from C$25.00 to C$44.00. The company traded as high as C$46.25 and last traded at C$45.61, with a volume of 493524 shares trading hands. The stock had previously closed at C$43.00.

A number of other equities research analysts have also issued reports on SKE. CIBC lifted their target price on shares of Skeena Resources from C$40.00 to C$44.00 in a research note on Tuesday, January 13th. Desjardins raised Skeena Resources to a “moderate buy” rating in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on Skeena Resources from C$34.00 to C$53.00 in a research note on Wednesday, December 10th. Finally, TD Securities raised their price target on Skeena Resources from C$35.00 to C$49.00 in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Skeena Resources currently has an average rating of “Buy” and an average price target of C$43.20.

Skeena Resources Trading Up 2.4%

The company has a fifty day simple moving average of C$33.11 and a two-hundred day simple moving average of C$26.77. The company has a market capitalization of C$5.33 billion, a P/E ratio of -44.93 and a beta of 2.11. The company has a debt-to-equity ratio of 19.27, a current ratio of 1.87 and a quick ratio of 1.55.

Skeena Resources Company Profile

Skeena Resources Ltd is a Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The company’s primary activity is the exploration and development of the past-producing Eskay Creek mine acquired from Barrick.