Skeena Resources (TSE:SKE) Given New C$14.00 Price Target at Scotiabank

Skeena Resources (TSE:SKE) had its price objective lifted by analysts at Scotiabank from C$13.50 to C$14.00 in a note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential upside of 3.47% from the company’s current price. Scotiabank also issued estimates for Skeena Resources’ FY2024 earnings at ($1.67) EPS, FY2025 earnings at ($0.59) EPS and FY2026 earnings at ($0.64) EPS.

Several other equities analysts have also commented on the company. Royal Bank of Canada raised their price target on Skeena Resources from C$17.00 to C$18.00 in a research note on Friday, December 6th. CIBC cut their price objective on shares of Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd. Finally, Desjardins upgraded shares of Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st.

Skeena Resources Price Performance

Shares of TSE SKE traded down C$0.39 during mid-day trading on Wednesday, hitting C$13.53. 168,475 shares of the company’s stock traded hands, compared to its average volume of 266,576. The company has a market capitalization of C$1.44 billion, a P/E ratio of -8.84 and a beta of 1.65. The company has a debt-to-equity ratio of 10.23, a current ratio of 2.88 and a quick ratio of 1.55. The company’s 50-day moving average is C$12.86 and its two-hundred day moving average is C$11.28. Skeena Resources has a 1 year low of C$4.48 and a 1 year high of C$14.70.

Insiders Place Their Bets

In related news, Director Craig Andrew Parry sold 70,000 shares of the business’s 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. 1.51% of the stock is owned by corporate 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.