Skeena Resources (TSE:SKE) Hits New 12-Month High - Should You Buy?

Key Points

• Skeena Resources' stock reached a new 52-week high of C$24.73 on August 12, trading at C$24.43 on the last transaction with a total volume of 142,840 shares.
• Analysts have been bullish on Skeena Resources, with TD Securities rating it a "strong-buy" and multiple firms raising their price targets to C$26.00.
• The company, which focuses on gold and silver exploration in Canada, has a market cap of C$2.78 billion and a negative price-to-earnings ratio of -16.12.

Skeena Resources Limited (TSE:SKE - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as C$24.73 and last traded at C$24.43, with a volume of 142840 shares traded. The stock had previously closed at C$24.02.

Analysts Set New Price Targets

SKE has been the topic of several analyst reports. TD Securities raised shares of Skeena Resources to a "strong-buy" rating in a research report on Tuesday, August 12th. Raymond James Financial lifted their target price on shares of Skeena Resources from C$21.00 to C$26.00 in a research note on Thursday, August 21st. CIBC boosted their price objective on shares of Skeena Resources from C$19.00 to C$26.00 in a research note on Monday, July 21st. Finally, Royal Bank Of Canada boosted their price objective on shares of Skeena Resources from C$23.00 to C$26.00 and gave the stock an "outperform" rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Strong Buy" and a consensus target price of C$23.00.

Skeena Resources Stock Up 0.7%

The stock has a market cap of C$2.78 billion, a price-to-earnings ratio of -16.12 and a beta of 1.67. The company has a debt-to-equity ratio of 19.27, a quick ratio of 1.55 and a current ratio of 1.87. The firm's 50-day simple moving average is C$21.65 and its two-hundred day simple moving average is C$18.25.

About Skeena Resources

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.