Skeena Resources (TSE:SKE) Trading Down 5.7% – What’s Next?

Skeena Resources Limited (TSE:SKE) shares were down 5.7% during mid-day trading on Thursday . The stock traded as low as C$34.56 and last traded at C$36.84. Approximately 800,716 shares traded hands during trading, an increase of 75% from the average daily volume of 458,393 shares. The stock had previously closed at C$39.07.

Analysts Set New Price Targets

SKE has been the subject of a number of research reports. Royal Bank Of Canada boosted their target price on shares of Skeena Resources from C$34.00 to C$53.00 in a research note on Wednesday, December 10th. Scotiabank lifted their price objective on Skeena Resources from C$25.00 to C$44.00 in a report on Monday, January 26th. Canadian Imperial Bank of Commerce boosted their price objective on Skeena Resources from C$44.00 to C$58.00 in a research note on Wednesday, February 4th. Finally, TD Securities increased their target price on Skeena Resources from C$35.00 to C$49.00 in a report on Thursday, January 22nd. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$46.00.

Skeena Resources Stock Down 5.7%

The stock has a market capitalization of C$4.46 billion, a price-to-earnings ratio of -37.59 and a beta of 2.35. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 72.40. The business’s 50-day moving average is C$43.55 and its two-hundred day moving average is C$32.90.

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.