Skeena Resources Limited (TSE:SKE) Given Average Rating of “Buy” by Brokerages

Skeena Resources Limited (TSE:SKE) has been assigned a consensus recommendation of “Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is C$16.96.

A number of equities analysts have weighed in on SKE shares. Canaccord Genuity Group boosted their target price on shares of Skeena Resources from C$17.00 to C$17.25 in a research note on Tuesday, July 23rd. BMO Capital Markets boosted their price objective on shares of Skeena Resources from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Thursday, June 27th. Scotiabank increased their price objective on Skeena Resources from C$12.00 to C$13.50 in a research report on Monday, August 19th. Finally, Desjardins lifted their target price on Skeena Resources from C$19.75 to C$20.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th.

Insiders Place Their Bets

In related news, Senior Officer Justin Reed Himmelright sold 8,000 shares of the company’s stock in a transaction dated Friday, July 19th. The stock was sold at an average price of C$8.52, for a total value of C$68,136.00. Company insiders own 1.51% of the company’s stock.

Skeena Resources Stock Performance

Skeena Resources stock opened at C$10.70 on Friday. Skeena Resources has a 12-month low of C$4.20 and a 12-month high of C$11.52. The stock has a 50-day simple moving average of C$8.53 and a 200 day simple moving average of C$6.93. 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 capitalization of C$1.14 billion, a price-to-earnings ratio of -6.99 and a beta of 1.64.

About Skeena Resources

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.