Skeena Resources (TSE:SKE) Sets New 1-Year High – What’s Next?

Shares of Skeena Resources Limited (TSE:SKE) hit a new 52-week high on Monday . The stock traded as high as C$26.73 and last traded at C$25.90, with a volume of 62446 shares trading hands. The stock had previously closed at C$26.08.

Analysts Set New Price Targets

Several brokerages have weighed in on SKE. Raymond James Financial boosted their price objective on Skeena Resources from C$21.00 to C$26.00 in a research report on Thursday, August 21st. TD Securities upgraded Skeena Resources to a “strong-buy” rating in a research report on Tuesday, August 12th. CIBC boosted their price objective on Skeena Resources from C$26.00 to C$36.00 in a research report on Thursday. Finally, Royal Bank Of Canada upped their target price on Skeena Resources from C$23.00 to C$26.00 and gave the company an “outperform” rating in a report on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Strong Buy” and an average target price of C$25.50.

Skeena Resources Stock Performance

The business has a fifty day simple moving average of C$22.58 and a 200-day simple moving average of C$19.39. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 19.27. The firm has a market cap of C$2.98 billion, a P/E ratio of -17.26 and a beta of 1.67.

Insider Activity at Skeena Resources

In other news, Director Craig Andrew Parry sold 15,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of C$20.48, for a total value of C$307,203.00. Following the sale, the director directly owned 225,926 shares of the company’s stock, valued at approximately C$4,627,009.67. This represents a 6.23% decrease in their ownership of the stock. Corporate insiders own 1.51% of the company’s stock.

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.