Skeena Resources (TSE:SKE) Given New C$35.00 Price Target at TD Securities

Key Points

• TD Securities has raised Skeena Resources' price target from C$28.00 to C$35.00, indicating a potential upside of 36.45% from the current price.
• Other analysts have also increased their price targets, with CIBC setting it at C$36.00, reflecting positive sentiment around the stock.
• Skeena Resources' shares rose by 1.9% on Friday, trading at C$25.65, with a notable trading volume surpassing average levels.

Skeena Resources (TSE:SKE - Get Free Report) had its price target lifted by research analysts at TD Securities from C$28.00 to C$35.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a "buy" rating on the stock. TD Securities' price objective would indicate a potential upside of 36.45% from the company's current price.

Several other equities analysts have also weighed in on the stock. CIBC increased their price target on shares of Skeena Resources from C$26.00 to C$36.00 in a research report on Thursday, September 25th. Desjardins raised shares of Skeena Resources to a "moderate buy" rating in a report on Wednesday. Raymond James Financial increased their price target on shares of Skeena Resources from C$21.00 to C$26.00 in a report on Thursday, August 21st. Finally, Royal Bank Of Canada increased their price target on shares of Skeena Resources from C$23.00 to C$26.00 and gave the stock an "outperform" rating in a report on Monday, June 23rd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of C$27.40.

Skeena Resources Stock Up 1.9%

Shares of TSE SKE traded up C$0.47 during trading on Friday, hitting C$25.65. The stock had a trading volume of 441,463 shares, compared to its average volume of 334,126. Skeena Resources has a 12 month low of C$10.34 and a 12 month high of C$26.73. The company has a debt-to-equity ratio of 19.27, a current ratio of 1.87 and a quick ratio of 1.55. The company has a market capitalization of C$2.95 billion, a PE ratio of -17.10 and a beta of 1.80. The firm has a fifty day moving average of C$23.31 and a two-hundred day moving average of C$19.95.

Insiders Place Their Bets

In related news, Director Craig Andrew Parry sold 15,000 shares of the firm's stock in a transaction that occurred 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 directly owned 225,926 shares of the company's stock, valued at C$4,627,009.67. This trade represents a 6.23% decrease in their ownership of the stock. 1.51% of the stock is owned by corporate insiders.

About Skeena Resources

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.

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