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

Skeena Resources Limited (TSE:SKE)’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 MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$16.67.

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:SKE) 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

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.