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Skeena Resources Expands Stake in TDG Gold Corp.

Story Highlights
  • Skeena Resources is a leading developer of precious metals in British Columbia.
  • Skeena increased its stake in TDG Gold Corp. to 10.88% through a C$4 million share purchase.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Skeena Resources Expands Stake in TDG Gold Corp.

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The latest announcement is out from Skeena Resources ( (TSE:SKE) ).

Skeena Resources has increased its stake in TDG Gold Corp. by acquiring 6,666,667 shares for C$4,000,000, bringing its total ownership to 29,666,667 shares, or 10.88% of TDG’s outstanding shares. This acquisition is part of a broader financing and acquisition strategy by TDG, which includes a ‘bought deal’ financing and the acquisition of Anyox Copper Ltd. The move is primarily for investment purposes, indicating Skeena’s strategic interest in expanding its influence in the precious metals market.

The most recent analyst rating on (TSE:SKE) stock is a Buy with a C$19.00 price target. To see the full list of analyst forecasts on Skeena Resources stock, see the TSE:SKE Stock Forecast page.

Spark’s Take on TSE:SKE Stock

According to Spark, TipRanks’ AI Analyst, TSE:SKE is a Neutral.

Skeena Resources’ overall stock score reflects the high-risk, high-reward nature of exploration companies. The financial performance is weak due to lack of revenue and substantial losses, yet there is strong technical momentum and positive corporate developments. Valuation remains challenging with negative earnings, but the company’s strategic initiatives in project advancement and financing are promising. Investors should weigh the potential for significant returns against the inherent risks of the sector.

To see Spark’s full report on TSE:SKE stock, click here.

More about Skeena Resources

Skeena Resources Limited is a leading precious metals developer focused on advancing the Eskay Creek Gold-Silver Project, a past-producing mine located in the Golden Triangle of British Columbia, Canada. The company is committed to sustainable mining practices and aims to maximize the potential of its mineral resources while fostering positive relationships with Indigenous communities.

Average Trading Volume: 248,511

Technical Sentiment Signal: Buy

Current Market Cap: C$2.57B

Learn more about SKE stock on TipRanks’ Stock Analysis page.

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