Skeena Resources (TSE:SKE) Reaches New 52-Week High Following Analyst Upgrade

Shares of Skeena Resources Limited (TSE:SKE) hit a new 52-week high during trading on Wednesday after Scotiabank raised their price target on the stock from C$13.50 to C$14.00. The company traded as high as C$14.70 and last traded at C$13.92, with a volume of 711963 shares traded. The stock had previously closed at C$13.04.

Several other brokerages have also recently issued reports on SKE. Desjardins raised Skeena Resources to a “moderate buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada increased their price target on Skeena Resources from C$17.00 to C$18.00 in a research report on Friday, December 6th. Finally, CIBC cut their price target on Skeena Resources from C$17.00 to C$16.00 in a research note on Monday, December 2nd.

Insider Buying and Selling

In related news, Director Craig Andrew Parry sold 70,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$10.58, for a total transaction of C$740,509.00. 1.51% of the stock is currently owned by insiders.

Skeena Resources Trading Down 1.9 %

The firm has a market capitalization of C$1.41 billion, a PE ratio of -8.64 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’s 50-day simple moving average is C$12.87 and its 200 day simple moving average is C$11.33.

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.