Skeena Resources (TSE:SKE) Hits New 12-Month High – Here’s Why

Skeena Resources Limited (TSE:SKE)’s share price hit a new 52-week high on Friday . The stock traded as high as C$48.05 and last traded at C$47.49, with a volume of 27078 shares traded. The stock had previously closed at C$47.05.

Analysts Set New Price Targets

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

Skeena Resources Price Performance

The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 19.27. The firm has a market cap of C$5.67 billion, a price-to-earnings ratio of -47.80 and a beta of 2.29. The company’s 50-day moving average price is C$38.48 and its 200-day moving average price is C$29.47.

About Skeena Resources

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.