Skeena Resources (TSE:SKE) Sets New 52-Week High – Time to Buy?

Skeena Resources Limited (TSE:SKE)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as C$38.91 and last traded at C$38.81, with a volume of 30360 shares changing hands. The stock had previously closed at C$37.50.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SKE. CIBC lifted their price target on shares of Skeena Resources from C$40.00 to C$44.00 in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their target price on Skeena Resources from C$34.00 to C$53.00 in a research report on Wednesday, December 10th. Desjardins raised shares of Skeena Resources to a “moderate buy” rating in a report on Wednesday, October 8th. Finally, TD Securities raised their price objective on Skeena Resources from C$28.00 to C$35.00 and gave the stock a “buy” rating in a research report on Friday, October 10th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Skeena Resources has a consensus rating of “Buy” and an average price target of C$39.50.

Skeena Resources Stock Performance

The company has a market capitalization of C$4.69 billion, a price-to-earnings ratio of -39.49 and a beta of 2.11. The firm has a 50-day simple moving average of C$31.12 and a two-hundred day simple moving average of C$25.92. The company has a debt-to-equity ratio of 19.27, a quick ratio of 1.55 and a current ratio of 1.87.

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.