Skeena Resources (TSE:SKE) Sets New 52-Week High – Here’s Why

Skeena Resources Limited (TSE:SKE)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as C$14.71 and last traded at C$14.47, with a volume of 8444 shares. The stock had previously closed at C$14.42.

Analysts Set New Price Targets

Several research firms have issued reports on SKE. Royal Bank of Canada upped their price target on Skeena Resources from C$17.00 to C$18.00 in a report on Friday, December 6th. Scotiabank upped their price target on Skeena Resources from C$13.50 to C$14.00 in a report on Wednesday, January 15th. Desjardins raised Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st. Finally, CIBC dropped their price target on Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd.

Skeena Resources Stock Performance

The firm’s 50 day simple moving average is C$13.33 and its 200-day simple moving average is C$11.82. The company has a debt-to-equity ratio of 10.23, a quick ratio of 1.55 and a current ratio of 2.88. The company has a market capitalization of C$1.54 billion, a price-to-earnings ratio of -9.42 and a beta of 1.65.

Insider Activity

In other news, Senior Officer Andrew Macritchie sold 33,540 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of C$14.20, for a total transaction of C$476,268.00. Also, Director Craig Andrew Parry sold 25,000 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of C$14.14, for a total transaction of C$353,500.00. Insiders have sold a total of 169,496 shares of company stock worth $2,141,625 in the last ninety days. Corporate insiders own 1.51% of the company’s stock.

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.