Skeena Resources (TSE:SKE) Sets New 12-Month High – Should You Buy?

Skeena Resources Limited (TSE:SKE) reached a new 52-week high during trading on Thursday . The company traded as high as C$51.34 and last traded at C$51.11, with a volume of 425442 shares changing hands. The stock had previously closed at C$49.78.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SKE. Royal Bank Of Canada boosted their price target on shares of Skeena Resources from C$34.00 to C$53.00 in a research report on Wednesday, December 10th. Scotiabank upped their target price on Skeena Resources from C$25.00 to C$44.00 in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce lifted their price target on Skeena Resources from C$44.00 to C$58.00 in a research report on Wednesday, February 4th. Finally, TD Securities raised their target price on shares of Skeena Resources from C$35.00 to C$49.00 in a research report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$46.00.

Skeena Resources Stock Up 1.7%

The company has a market capitalization of C$6.30 billion, a price-to-earnings ratio of -53.05 and a beta of 2.29. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 19.27. The firm’s 50 day simple moving average is C$40.50 and its 200-day simple moving average is C$30.67.

Skeena Resources Company Profile

Skeena Resources Ltd is a Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The company’s primary activity is the exploration and development of the past-producing Eskay Creek mine acquired from Barrick.