Skeena Resources (TSE:SKE) Price Target Cut to C$12.00 by Analysts at Scotiabank

Skeena Resources (TSE:SKE) had its price target dropped by research analysts at Scotiabank from C$14.00 to C$12.00 in a report released on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 107.25% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Canaccord Genuity Group increased their price objective on shares of Skeena Resources from C$14.75 to C$17.00 in a research note on Tuesday, April 23rd. Raymond James increased their price objective on shares of Skeena Resources from C$13.00 to C$14.00 in a research note 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.com, Skeena Resources has an average rating of “Buy” and an average price target of C$16.33.

Skeena Resources Stock Down 1.0 %

Shares of Skeena Resources stock traded down C$0.06 on Wednesday, reaching C$5.79. The stock had a trading volume of 250,677 shares, compared to its average volume of 309,426. The company has a 50 day moving average price of C$6.41 and a 200 day moving average price of C$6.06. The company has a quick ratio of 1.55, a current ratio of 3.86 and a debt-to-equity ratio of 26.00. Skeena Resources has a 1 year low of C$4.20 and a 1 year high of C$7.31. The stock has a market capitalization of C$525.79 million, a P/E ratio of -4.48 and a beta of 1.68.

Skeena Resources (TSE:SKE) last released its earnings results on Friday, May 10th. The company reported C($0.30) earnings per share for the quarter, missing the consensus estimate of C($0.06) by C($0.24). As a group, equities research analysts forecast that Skeena Resources will post -0.4862973 EPS for the current year.

Insider Buying and Selling

In related news, Senior Officer Randy Reichert sold 53,100 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of C$6.30, for a total transaction of C$334,476.90. 1.79% of the stock is owned by company insiders.

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.