CIBC Lowers Skeena Resources (TSE:SKE) Price Target to C$16.00

Skeena Resources (TSE:SKE) had its target price decreased by stock analysts at CIBC from C$17.00 to C$16.00 in a note issued to investors on Monday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 22.42% from the company’s previous close.

A number of other equities analysts have also recently issued reports on SKE. Scotiabank raised their price objective on shares of Skeena Resources from C$12.00 to C$13.50 in a research note on Monday, August 19th. Desjardins raised shares of Skeena Resources to a “moderate buy” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada upped their target price on shares of Skeena Resources from C$15.00 to C$17.00 and gave the company an “outperform” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of C$16.82.

Skeena Resources Price Performance

Skeena Resources stock opened at C$13.07 on Monday. The business’s 50-day simple moving average is C$12.47 and its 200 day simple moving average is C$9.83. 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 stock has a market cap of C$1.39 billion, a price-to-earnings ratio of -8.54 and a beta of 1.65. Skeena Resources has a 12-month low of C$4.48 and a 12-month high of C$14.28.

Insider Activity

In other Skeena Resources news, Senior Officer Andrew Macritchie sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of C$10.50, for a total transaction of C$52,500.00. Also, Director Craig Andrew Parry sold 70,000 shares of the firm’s 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 value of C$740,509.00. Insiders sold 107,407 shares of company stock worth $1,171,233 in the last quarter. Corporate insiders own 1.51% of the company’s stock.

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.