Skeena Resources (TSE:SKE) Trading Up 7.6% – Here’s Why

Skeena Resources Limited (TSE:SKE)’s stock price was up 7.6% on Tuesday . The stock traded as high as C$14.06 and last traded at C$14.03. Approximately 144,350 shares traded hands during mid-day trading, a decline of 29% from the average daily volume of 202,008 shares. The stock had previously closed at C$13.04.

Analyst Ratings Changes

Several equities analysts recently weighed in on SKE shares. Desjardins upgraded shares of Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their price objective on Skeena Resources from C$17.00 to C$18.00 in a research report on Friday, December 6th. Scotiabank upped their price objective on Skeena Resources from C$13.50 to C$14.00 in a research report on Wednesday. Finally, CIBC lowered their price objective on Skeena Resources from C$17.00 to C$16.00 in a research report on Monday, December 2nd.

Skeena Resources Stock Down 1.9 %

The stock has a market cap of C$1.41 billion, a PE ratio of -8.64 and a beta of 1.65. The company has a current ratio of 2.88, a quick ratio of 1.55 and a debt-to-equity ratio of 10.23. The business has a 50-day moving average price of C$12.87 and a 200-day moving average price of C$11.33.

Insider Activity

In related news, Director Craig Andrew Parry sold 70,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of C$10.58, for a total value of C$740,509.00. Insiders own 1.51% of the company’s stock.

Skeena Resources Company Profile

Skeena Resources Limited explores for and develops mineral properties in Canada. The company explores for gold, silver, copper, and other precious metal deposits. It holds 100% interests in the Snip gold mine comprising one mining lease and nine mineral tenures that covers an area of approximately 4,724 hectares; and the Eskay Creek gold mine that consists of eight mineral leases, two surface leases, and various unpatented mining claims comprising 7,666 hectares located in British Columbia, Canada.