Skeena Resources (TSE:SKE) Rating Increased to Strong-Buy at TD Securities

Key Points

• Skeena Resources has been upgraded to a "strong-buy" rating by TD Securities, indicating increased confidence from analysts in the company's growth potential.
• Royal Bank of Canada and CIBC both raised their target price for Skeena Resources to C$26.00, showcasing a positive outlook for the stock's performance.
• Insider selling has been noted, with senior officers selling 43,986 shares valued at $734,961 in the past three months, raising concerns about insider confidence in the stock.

Skeena Resources (TSE:SKE - Get Free Report) was upgraded by investment analysts at TD Securities to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Royal Bank Of Canada increased their target price on 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. CIBC boosted their price target on Skeena Resources from C$19.00 to C$26.00 in a research note on Monday, July 21st.

Skeena Resources Trading Down 0.3%

Shares of SKE stock opened at C$21.76 on Tuesday. The firm has a 50 day moving average price of C$21.05 and a two-hundred day moving average price of C$17.40. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 19.27. The company has a market capitalization of C$2.38 billion, a PE ratio of -13.14 and a beta of 1.65. Skeena Resources has a 12-month low of C$9.80 and a 12-month high of C$23.62.

Insider Buying and Selling at Skeena Resources

In other Skeena Resources news, Senior Officer Randy Reichert sold 19,094 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of C$15.62, for a total value of C$298,338.02. Also, Senior Officer Paul Geddes sold 5,200 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of C$15.62, for a total transaction of C$81,248.44. Insiders sold a total of 43,986 shares of company stock valued at $734,961 in the last three months. 1.51% of the stock is owned by insiders.

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.

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