Desjardins Increases Skeena Resources (TSE:SKE) Price Target to C$20.00

Skeena Resources (TSE:SKE) had its target price hoisted by Desjardins from C$19.75 to C$20.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Desjardins’ target price would suggest a potential upside of 245.42% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Raymond James lifted their target price on shares of Skeena Resources from C$13.00 to C$14.00 in a research note on Tuesday, April 23rd. Scotiabank cut their price target on shares of Skeena Resources from C$14.00 to C$12.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Canaccord Genuity Group raised their price target on shares of Skeena Resources from C$14.75 to C$17.00 in a report on Tuesday, April 23rd. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$16.33.

Skeena Resources Stock Down 1.0 %

Shares of SKE stock traded down C$0.06 during trading hours on Wednesday, hitting C$5.79. 250,677 shares of the company were exchanged, compared to its average volume of 309,426. The company has a debt-to-equity ratio of 26.00, a quick ratio of 1.55 and a current ratio of 3.86. The business’s 50-day simple moving average is C$6.41 and its two-hundred day simple moving average is C$6.06. Skeena Resources has a one year low of C$4.20 and a one year high of C$7.31. The stock has a market capitalization of C$525.79 million, a price-to-earnings ratio of -4.48 and a beta of 1.68.

Skeena Resources (TSE:SKE) last posted its quarterly earnings results on Friday, May 10th. The company reported C($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.06) by C($0.24). Sell-side analysts predict that Skeena Resources will post -0.4862973 EPS for the current fiscal year.

Insider Buying and Selling

In other Skeena Resources news, Senior Officer Randy Reichert sold 53,100 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of C$6.30, for a total value of C$334,476.90. Insiders own 1.79% 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.