Skeena Resources (TSE:SKE) Trading Down 5.7% – Here’s What Happened

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

Analysts Set New Price Targets

Several research firms recently commented on SKE. Royal Bank Of Canada raised their target price on Skeena Resources from C$34.00 to C$53.00 in a report on Wednesday, December 10th. Canadian Imperial Bank of Commerce boosted their price target on Skeena Resources from C$44.00 to C$58.00 in a report on Wednesday, February 4th. TD Securities upped their price objective on Skeena Resources from C$35.00 to C$49.00 in a research report on Thursday, January 22nd. Finally, Scotiabank raised their price objective 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, Based on data from MarketBeat.com, Skeena Resources currently has an average rating of “Buy” and a consensus target price of C$46.00.

Skeena Resources Stock Performance

The firm’s 50 day moving average price is C$43.55 and its 200-day moving average price is C$32.90. The company has a debt-to-equity ratio of 72.40, a quick ratio of 1.55 and a current ratio of 2.07. The firm has a market capitalization of C$4.46 billion, a PE ratio of -37.59 and a beta of 2.35.

About Skeena Resources

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.