Skeena Resources (TSE:SKE) Hits New 1-Year High – Should You Buy?

Skeena Resources Limited (TSE:SKE)’s share price hit a new 52-week high on Tuesday . The stock traded as high as C$12.85 and last traded at C$12.74, with a volume of 146179 shares. The stock had previously closed at C$12.18.

Wall Street Analyst Weigh In

SKE has been the topic of a number of recent analyst reports. Canaccord Genuity Group upped their price objective on Skeena Resources from C$17.00 to C$17.25 in a report on Tuesday, July 23rd. Royal Bank of Canada upped their price objective on Skeena Resources from C$15.00 to C$17.00 and gave the company an “outperform” rating in a report on Tuesday, September 10th. Desjardins upped their price objective on Skeena Resources from C$19.75 to C$20.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. BMO Capital Markets upped their price objective on Skeena Resources from C$18.00 to C$20.00 and gave the company an “outperform” rating in a report on Thursday, June 27th. Finally, Scotiabank boosted their target price on Skeena Resources from C$12.00 to C$13.50 in a research report on Monday, August 19th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Skeena Resources has an average rating of “Buy” and an average price target of C$16.96.

Skeena Resources Trading Up 6.7 %

The business has a 50-day simple moving average of C$10.74 and a 200-day simple moving average of C$8.28. 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 company has a market cap of C$1.39 billion, a PE ratio of -7.96 and a beta of 1.65.

Skeena Resources (TSE:SKE) last posted its quarterly earnings data on Thursday, August 8th. The company reported C($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.08) by C($0.30). On average, analysts predict that Skeena Resources Limited will post -0.4862973 EPS for the current fiscal year.

Insider Transactions at Skeena Resources

In other news, Senior Officer Andrew Macritchie sold 22,850 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of C$11.89, for a total transaction of C$271,597.39. In related news, Senior Officer Justin Reed Himmelright sold 8,000 shares of the business’s stock in a transaction on Friday, July 19th. The shares were sold at an average price of C$8.52, for a total transaction of C$68,136.00. Also, Senior Officer Andrew Macritchie sold 22,850 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of C$11.89, for a total transaction of C$271,597.39. Over the last 90 days, insiders have sold 45,407 shares of company stock valued at $498,860. 1.51% of the stock is currently owned by company insiders.

Skeena Resources Company Profile

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.