Skeena Resources(SKE) Soars 5.48% On Bullish Forecast

Skeena Resources(SKE) surged to a record high today, with an intraday gain of 5.48%.

Over the past five years, the strategy of buying SKE shares after they reached a high and holding for one week delivered strong returns. The strategy achieved an impressive 151.32% return, vastly outperforming the benchmark, which gained 50.09%. The excess return generated by the strategy was 101.22%, indicating that it not only matched the market's performance but also gained significant upside. The strategy's CAGR was 46.89%, and while it had a maximum drawdown of -52.96%, it maintained a relatively high Sharpe ratio of 0.80, suggesting good risk-adjusted returns. The volatility of the strategy was 58.83%, which is a measure of the strategy's potential for price swings; higher volatility indicates greater risk and potential for higher returns.

Skeena Resources has been in the spotlight recently due to a series of positive developments. The Royal Bank of Canada has issued a bullish forecast for the company, raising its target price from C$20.00 to C$23.00. This upgrade reflects a significant gain of 22.41% since May 15, 2025, and indicates strong short-term signals and a positive trend. The stock has been upgraded from Hold/Accumulate to Buy Candidate, further boosting investor confidence. Despite being overbought on RSI14, the stock is expected to perform well in the short term, with a predicted opening price of $19.69 for June 5, 2025.

These positive forecasts and upgrades have contributed to the recent surge in Skeena Resources' stock price, reflecting strong investor sentiment and market optimism. The company's consistent performance over the past few days has further solidified its position as a promising investment opportunity. As Skeena Resources continues to demonstrate strong short-term signals and a positive trend, investors are likely to remain bullish on the stock, driving further gains in the coming days.