Skeena Resources (TSE:SKE) Reaches New 12-Month High – Should You Buy?

Skeena Resources Limited (TSE:SKE)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as C$14.70 and last traded at C$13.92, with a volume of 711963 shares changing hands. The stock had previously closed at C$13.04.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SKE shares. Royal Bank of Canada boosted their price target on shares of Skeena Resources from C$17.00 to C$18.00 in a research report on Friday, December 6th. CIBC dropped their target price on Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd. Finally, Desjardins raised Skeena Resources to a “moderate buy” rating in a research note on Thursday, October 31st.

Skeena Resources Trading Up 6.7 %

The firm has a market capitalization of C$1.48 billion, a price-to-earnings ratio of -9.10 and a beta of 1.65. 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 firm’s 50 day moving average is C$12.86 and its 200 day moving average is C$11.28.

Insider Activity

In other Skeena Resources news, Director Craig Andrew Parry sold 70,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$10.58, for a total transaction of C$740,509.00. 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.