CIBC Lowers Skeena Resources (TSE:SKE) Price Target to C$16.00

Skeena Resources (TSE:SKE) had its price objective decreased by equities researchers at CIBC from C$17.00 to C$16.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. CIBC’s price target indicates a potential upside of 24.03% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Scotiabank lifted their target price on shares of Skeena Resources from C$12.00 to C$13.50 in a research note on Monday, August 19th. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price target on Skeena Resources from C$15.00 to C$17.00 and gave the stock an “outperform” rating in a report on Tuesday, September 10th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$16.82.

Skeena Resources Price Performance

SKE traded down C$0.31 on Monday, hitting C$12.90. 63,010 shares of the company’s stock were exchanged, compared to its average volume of 326,788. Skeena Resources has a fifty-two week low of C$4.48 and a fifty-two week high of C$14.28. The company has a current ratio of 2.88, a quick ratio of 1.55 and a debt-to-equity ratio of 10.23. The firm has a 50-day moving average price of C$12.45 and a 200-day moving average price of C$9.81. The stock has a market cap of C$1.38 billion, a price-to-earnings ratio of -8.43 and a beta of 1.65.

Insider Activity at Skeena Resources

In other Skeena Resources news, Senior Officer Andrew Macritchie sold 5,000 shares of Skeena Resources stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of C$10.50, for a total value of C$52,500.00. Also, Senior Officer Justin Reed Himmelright sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$10.99, for a total value of C$82,395.00. In the last ninety days, insiders have sold 107,407 shares of company stock worth $1,171,233. Company 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.