Skeena Resources Soars 18.11% in Six Days on Bullish Outlook

Skeena Resources (SKE) surged to a record high today, with an intraday gain of 1.81%. The stock has been on a winning streak, rising for six consecutive days, with a total increase of 18.11% over the past six days.

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 effectively captured significant upward momentum in the stock's price. However, the strategy's Sharpe ratio of 0.80 and a maximum drawdown of -52.96% reveal that it carried moderate risk, with volatility of 58.83%. This suggests that while the strategy offered substantial gains, it was not without its risks.

Several recent developments have contributed to the positive momentum in Skeena Resources' stock price. The Royal Bank of Canada has increased its target price for the company from C$20.00 to C$23.00, signaling a bullish outlook for the stock. This revision reflects the bank's confidence in the company's future performance and potential for growth.

In addition to the positive forecast, bullish technical indicators have also played a role in driving the stock's upward trend. These indicators, combined with favorable news from the company, suggest that Skeena Resources may continue to experience gains in the near future. The stock's recent performance, including reaching a new 1-year high of C$18.64, further underscores the positive market sentiment and increased investor interest in the company.

On June 2, 2025, Skeena Resources' stock price rose by 5.63%, marking four consecutive days of gains. This streak of positive momentum highlights the ongoing optimism surrounding the company and its prospects. Overall, these factors collectively illustrate an optimistic outlook and increased investor confidence in Skeena Resources.