Scotiabank Forecasts Strong Price Appreciation for Skeena Resources (TSE:SKE) Stock

Skeena Resources (TSE:SKE) had its price target raised by Scotiabank from C$13.50 to C$14.00 in a research note published on Wednesday,BayStreet.CA reports. Scotiabank also issued estimates for Skeena Resources’ FY2024 earnings at ($1.67) EPS, FY2025 earnings at ($0.59) EPS and FY2026 earnings at ($0.64) EPS.

A number of other equities analysts have also commented on the company. CIBC cut their price target on Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd. Royal Bank of Canada lifted their target price on Skeena Resources from C$17.00 to C$18.00 in a report on Friday, December 6th. Finally, Desjardins raised shares of Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st.

Skeena Resources Price Performance

Shares of TSE:SKE opened at C$13.48 on Wednesday. The firm has a market capitalization of C$1.44 billion, a PE ratio of -8.81 and a beta of 1.65. The company has a quick ratio of 1.55, a current ratio of 2.88 and a debt-to-equity ratio of 10.23. The company has a 50-day moving average price of C$12.86 and a two-hundred day moving average price of C$11.28. Skeena Resources has a twelve month low of C$4.48 and a twelve month high of C$14.70.

Insider Buying and Selling

In other Skeena Resources news, Director Craig Andrew Parry sold 70,000 shares of Skeena Resources stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of C$10.58, for a total transaction of C$740,509.00. 1.51% of the stock is owned by company insiders.

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.