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

Skeena Resources Limited (TSE:SKE) shares hit a new 52-week high during mid-day trading on Thursday after Royal Bank Of Canada raised their price target on the stock from C$34.00 to C$53.00. The stock traded as high as C$33.75 and last traded at C$33.23, with a volume of 716611 shares changing hands. The stock had previously closed at C$33.09.

A number of other equities research analysts have also recently weighed in on SKE. TD Securities lifted their price target on shares of Skeena Resources from C$28.00 to C$35.00 and gave the company a “buy” rating in a research report on Friday, October 10th. Raymond James Financial lifted their target price on shares of Skeena Resources from C$21.00 to C$26.00 in a report on Thursday, August 21st. CIBC boosted their target price on Skeena Resources from C$26.00 to C$36.00 in a research report on Thursday, September 25th. Finally, Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$32.80.

Skeena Resources Stock Performance

The firm has a market capitalization of C$4.07 billion, a price-to-earnings ratio of -34.30 and a beta of 1.98. The firm has a 50 day moving average price of C$26.20 and a 200-day moving average price of C$23.35. 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.