Skeena Resources (TSE:SKE) Shares Up 8.5% on Analyst Upgrade

Skeena Resources Limited (TSE:SKEGet Free Report)’s stock price rose 8.5% on Thursday after BMO Capital Markets raised their price target on the stock from C$18.00 to C$20.00. BMO Capital Markets currently has an outperform rating on the stock. Skeena Resources traded as high as C$6.38 and last traded at C$6.37. Approximately 76,467 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 308,158 shares. The stock had previously closed at C$5.87.

SKE has been the subject of several other research reports. Scotiabank lowered their price target on shares of Skeena Resources from C$14.00 to C$12.00 and set an “outperform” rating for the company in a research report on Wednesday. Desjardins lifted their price objective on Skeena Resources from C$19.75 to C$20.00 and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity Group increased their target price on Skeena Resources from C$14.75 to C$17.00 in a research note on Tuesday, April 23rd. Finally, Raymond James upped their price target on Skeena Resources from C$13.00 to C$14.00 in a research note on Tuesday, April 23rd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from, the company currently has an average rating of “Buy” and a consensus target price of C$16.67.

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Insider Buying and Selling at Skeena Resources

In other Skeena Resources news, Senior Officer Randy Reichert sold 53,100 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of C$6.30, for a total transaction of C$334,476.90. Insiders own 1.79% of the company’s stock.

Skeena Resources Stock Up 12.8 %

The firm has a fifty day moving average of C$6.40 and a 200-day moving average of C$6.06. The company has a quick ratio of 1.55, a current ratio of 3.86 and a debt-to-equity ratio of 26.00. The firm has a market cap of C$601.16 million, a P/E ratio of -5.13 and a beta of 1.68.

Skeena Resources (TSE:SKEGet Free Report) last announced its quarterly earnings data on Friday, May 10th. The company reported C($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C($0.06) by C($0.24). On average, equities research analysts anticipate that Skeena Resources Limited will post -0.4862973 earnings per share for the current year.

Skeena Resources Company Profile

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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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