Skeena Resources (TSE:SKE) Shares Up 7.1% - What's Next?

Key Points

• Skeena Resources' shares rose 7.1% during mid-day trading, reaching a high of C$27.13, compared to a previous close of C$25.27.
• Several research firms have issued positive upgrades, with CIBC raising the target price to C$36.00 and TD Securities to C$35.00, contributing to an average target price of C$27.40 among analysts.
• The company focuses on mining exploration in British Columbia and has a market capitalization of C$3.28 billion, reflecting strong performance metrics and insider activity.

Skeena Resources Limited (TSE:SKE - Get Free Report) shot up 7.1% during mid-day trading on Monday . The stock traded as high as C$27.13 and last traded at C$27.07. 439,897 shares were traded during trading, an increase of 28% from the average session volume of 343,357 shares. The stock had previously closed at C$25.27.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SKE. CIBC boosted their target price on Skeena Resources from C$26.00 to C$36.00 in a research report on Thursday, September 25th. Desjardins raised Skeena Resources to a "moderate buy" rating in a research note on Wednesday, October 8th. Raymond James Financial boosted their price target on Skeena Resources from C$21.00 to C$26.00 in a research note on Thursday, August 21st. TD Securities boosted their price target on Skeena Resources from C$28.00 to C$35.00 and gave the stock a "buy" rating in a research note on Friday, October 10th. Finally, Royal Bank Of Canada boosted their price target 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. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Skeena Resources presently has an average rating of "Buy" and an average target price of C$27.40.

Skeena Resources Price Performance

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 stock has a market capitalization of C$3.28 billion, a price-to-earnings ratio of -18.05 and a beta of 1.80. The company has a 50-day moving average of C$24.09 and a 200-day moving average of C$20.64.

Insider Activity

In related news, Director Craig Andrew Parry sold 15,000 shares of Skeena Resources 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 transaction of C$307,203.00. Following the completion of the transaction, the director directly owned 225,926 shares in the company, valued at C$4,627,009.67. The trade was a 6.23% decrease in their position. 1.51% of the stock is owned by corporate insiders.

About Skeena Resources

Skeena Resources Ltd is a Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The company's primary activity is the exploration and development of the past-producing Eskay Creek mine acquired from Barrick.

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