CIBC Issues Positive Forecast for Skeena Resources (TSE:SKE) Stock Price

Key Points

• CIBC has raised the price target for Skeena Resources (TSE:SKE) from C$26.00 to C$36.00, indicating a potential upside of 43.77% from its current price.
• Other analysts have also shown positive sentiment, with TD Securities issuing a "strong-buy" rating and Royal Bank of Canada increasing their target price to C$26.00.
• Skeena Resources' shares traded up 1.2% to C$25.04, and the company has a market cap of C$2.88 billion.

Skeena Resources (TSE:SKE - Get Free Report) had its price target upped by analysts at CIBC from C$26.00 to C$36.00 in a research note issued to investors on Thursday,BayStreet.CA reports. CIBC's price target points to a potential upside of 43.77% from the stock's current price.

SKE has been the topic of several other reports. TD Securities raised shares of Skeena Resources to a "strong-buy" rating in a report on Tuesday, August 12th. Royal Bank Of Canada boosted their target price on shares of Skeena Resources from C$23.00 to C$26.00 and gave the stock an "outperform" rating in a research report on Monday, June 23rd. Finally, Raymond James Financial boosted their target price on shares of Skeena Resources from C$21.00 to C$26.00 in a research note on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company's stock. According to data from MarketBeat.com, Skeena Resources has an average rating of "Strong Buy" and an average price target of C$25.50.

Skeena Resources Trading Up 1.2%

Shares of SKE traded up C$0.30 during trading hours on Thursday, reaching C$25.04. The stock had a trading volume of 255,652 shares, compared to its average volume of 314,403. The company has a market cap of C$2.88 billion, a P/E ratio of -16.69 and a beta of 1.67. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 19.27. Skeena Resources has a 52 week low of C$10.34 and a 52 week high of C$26.41. The firm has a 50-day moving average of C$22.45 and a 200 day moving average of C$19.15.

Insider Transactions 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 shares were sold at an average price of C$20.48, for a total value of C$307,203.00. Following the sale, the director 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. 1.51% of the stock is currently owned by insiders.

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.

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