Skeena Resources (TSE:SKE) Stock Price Expected to Rise, CIBC Analyst Says

Skeena Resources (TSE:SKE) had its price objective raised by equities researchers at CIBC from C$44.00 to C$58.00 in a note issued to investors on Wednesday,BayStreet.CA reports. CIBC’s price objective would suggest a potential upside of 39.56% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. Royal Bank Of Canada lifted their price target on shares of Skeena Resources from C$34.00 to C$53.00 in a research report on Wednesday, December 10th. TD Securities raised their price target on shares of Skeena Resources from C$35.00 to C$49.00 in a report on Thursday, January 22nd. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research note on Wednesday, October 8th. Finally, Scotiabank upped their target price on shares of Skeena Resources from C$25.00 to C$44.00 in a research note on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Skeena Resources presently has a consensus rating of “Buy” and an average target price of C$46.00.

Skeena Resources Trading Down 1.5%

Shares of SKE stock traded down C$0.65 on Wednesday, reaching C$41.56. 615,554 shares of the stock were exchanged, compared to its average volume of 510,119. Skeena Resources has a 1-year low of C$12.15 and a 1-year high of C$48.04. The stock has a market cap of C$5.03 billion, a P/E ratio of -42.41 and a beta of 2.29. The company has a quick ratio of 1.55, a current ratio of 1.87 and a debt-to-equity ratio of 19.27. The firm has a 50 day moving average of C$35.16 and a two-hundred day moving average of C$27.64.

Skeena Resources Company Profile

Skeena Resources Ltd is a Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The company’s primary activity is the exploration and development of the past-producing Eskay Creek mine acquired from Barrick.