Skeena Resources (TSE:SKE) Sets New 1-Year High - What's Next?

Key Points

• Skeena Resources Ltd. achieved a new 52-week high with shares trading at C$26.73, reflecting strong market interest and a trading volume of 62,446 shares.
• Analysts have upgraded their ratings for Skeena Resources, with TD Securities issuing a "strong-buy" and CIBC raising the price target from C$26.00 to C$36.00.
• Insider activity includes Director Craig Andrew Parry selling 15,000 shares at an average price of C$20.48, reducing his ownership by 6.23% while still holding 225,926 shares valued at approximately C$4.63 million.

Skeena Resources Limited (TSE:SKE - Get Free Report) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$26.73 and last traded at C$25.90, with a volume of 62446 shares. The stock had previously closed at C$26.08.

Analyst Ratings Changes

SKE has been the topic of a number of analyst reports. TD Securities upgraded Skeena Resources to a "strong-buy" rating in a research note on Tuesday, August 12th. Raymond James Financial lifted their target price on Skeena Resources from C$21.00 to C$26.00 in a research note on Thursday, August 21st. Royal Bank Of Canada lifted 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. Finally, CIBC lifted their target price on Skeena Resources from C$26.00 to C$36.00 in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, Skeena Resources currently has an average rating of "Strong Buy" and a consensus price target of C$25.50.

Skeena Resources Stock Performance

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 stock has a market capitalization of C$2.98 billion, a P/E ratio of -17.26 and a beta of 1.67. The company has a 50-day moving average price of C$22.58 and a two-hundred day moving average price of C$19.39.

Insider Activity at Skeena Resources

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