Skeena Resources (TSE:SKE) Reaches New 52-Week High - What's Next?

Key Points

• Skeena Resources Limited has reached a new 52-week high, trading at C$26.30 before settling at C$25.59 with a trading volume of 103,873 shares.
• Several analysts, including Royal Bank of Canada and CIBC, have raised their price targets for the stock to C$26.00, indicating positive market sentiment with a consensus rating of "Strong Buy."
• Director Craig Andrew Parry sold 15,000 shares at an average price of C$20.48, reducing his stake by 6.23%, but still retains approximately C$4.63 million worth of shares.

Skeena Resources Limited (TSE:SKE - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as C$26.30 and last traded at C$25.59, with a volume of 103873 shares. The stock had previously closed at C$24.86.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SKE shares. Royal Bank Of Canada raised 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 research note on Monday, June 23rd. CIBC raised their price objective on shares of Skeena Resources from C$19.00 to C$26.00 in a report on Monday, July 21st. TD Securities raised shares of Skeena Resources to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Raymond James Financial raised their price objective on shares of Skeena Resources from C$21.00 to C$26.00 in a report 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. According to MarketBeat.com, the stock has a consensus rating of "Strong Buy" and a consensus target price of C$23.00.

Skeena Resources Trading Up 4.1%

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 firm has a market cap of C$2.98 billion, a price-to-earnings ratio of -17.25 and a beta of 1.67. The business's fifty day moving average is C$22.27 and its two-hundred day moving average is C$18.98.

Insider Buying and Selling

In other Skeena Resources news, Director Craig Andrew Parry sold 15,000 shares of Skeena Resources stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of C$20.48, for a total transaction of C$307,203.00. Following the completion of the sale, the director owned 225,926 shares of the company's stock, valued at approximately C$4,627,009.67. The trade was a 6.23% decrease in their position. Corporate insiders own 1.51% of the company's stock.

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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