GLOBE SAYS Skeena Resources Ltd (4) (C:SKE)
Shares Issued 88,960,461
Last Close 12/8/2023 $5.39
Friday December 8 2023 - In the News
The Globe and Mail reports in its Friday, Dec. 8, edition that Desjardins Securities analysts John Sclodnick and Jonathan Egilo expect gold equities to "awaken" in 2024 with the price of the precious metal "surging.
" The Globe's David Leeder writes in the Eye On Equities column that in a research report previewing the year ahead titled "Golden Slumbers," the analysts emphasized the "strong price environment" is likely to create opportunities for investors.
Mr. Sclodnick and Mr. Egilo say, "The general expectation for 2024 is that the Fed will cut rates." As a consequence, the Desjardins stockpickers say, "The gold price now appears set for outperformance.
" Mr. Sclodnick and Mr. Egilo have named developer Skeena Resources one of their top picks for 2024. They give it a "buy" recommendation, with an $18.25 share target.
Analysts on average target the shares at $15.28. Mr. Sclodnick and Mr. Egilo say in a note, "Skeena Resources recently announced strong results from its Eskay Creek DFS study, and we expect the project to be further enhanced via ongoing exploration and the inclusion of the nearby Snip project.
" The Globe reported on Nov. 17 that BMO's Andrew Mikitchook rated Skeena "outperform," when it was worth $5.43.
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I Like SKE however I think those analysts have some distortion or cracks in their crystal ball. Hopefully any financing will be done at higher prices but I doubt that will happen?