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Skeena Resources (TSE:SKE) Reaches New 52-Week High - Time to Buy?

Skeena Resources logo with Basic Materials background

Key Points

  • Skeena Resources' stock price reached a new 52-week high of C$24.26 during trading, closing at C$23.88 with a volume of 215,724 shares traded.
  • Analysts have shown positive sentiment, with Raymond James Financial, TD Securities, and Royal Bank of Canada upgrading their price targets to C$26.00, reflecting a consensus rating of "Strong Buy."
  • The company holds 100% interests in significant mining properties, including the Snip gold mine and Eskay Creek gold mine, covering over 12,000 hectares in British Columbia.
  • Five stocks to consider instead of Skeena Resources.

Skeena Resources Limited (TSE:SKE - Get Free Report) reached a new 52-week high during trading on Tuesday . The stock traded as high as C$24.26 and last traded at C$23.88, with a volume of 215724 shares traded. The stock had previously closed at C$23.02.

Wall Street Analyst Weigh In

SKE has been the subject of several recent analyst reports. Raymond James Financial lifted their price objective on shares of Skeena Resources from C$21.00 to C$26.00 in a research note on Thursday, August 21st. TD Securities upgraded Skeena Resources to a "strong-buy" rating in a report on Tuesday, August 12th. CIBC boosted their price objective on Skeena Resources from C$19.00 to C$26.00 in a report on Monday, July 21st. Finally, Royal Bank Of Canada boosted their price objective 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 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, the company has a consensus rating of "Strong Buy" and an average target price of C$23.00.

View Our Latest Report on Skeena Resources

Skeena Resources Trading Up 3.5%

The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 19.27. The stock has a 50-day simple moving average of C$21.65 and a two-hundred day simple moving average of C$18.22. The firm has a market capitalization of C$2.76 billion, a P/E ratio of -16.01 and a beta of 1.67.

Skeena Resources Company Profile

(Get Free Report)

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.

Further Reading

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