Skeena Resources (TSE:SKE) Reaches New 1-Year High - Here's Why

Skeena Resources Limited (TSE:SKE - Get Free Report) hit a new 52-week high on Friday . The company traded as high as C$14.71 and last traded at C$14.47, with a volume of 8444 shares changing hands. The stock had previously closed at C$14.42.

Wall Street Analyst Weigh In

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

Skeena Resources Trading Up 2.1 %

The firm has a 50 day simple moving average of C$13.39 and a 200 day simple moving average of C$11.91. 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 market capitalization of C$1.57 billion, a PE ratio of -9.60 and a beta of 1.65.

Insider Activity at Skeena Resources

In other Skeena Resources news, Senior Officer Randy Reichert sold 17,956 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of C$13.89, for a total transaction of C$249,430.39. Also, Director Craig Andrew Parry sold 70,000 shares of the stock in a transaction that occurred on 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 have sold a total of 169,496 shares of company stock worth $2,141,625 over the last quarter. Company insiders own 1.51% of the company's stock.

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.