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

Skeena Resources Limited (TSE:SKE)’s stock price was up 7.6% during trading on Tuesday . The stock traded as high as C$14.06 and last traded at C$14.03. Approximately 144,350 shares were traded 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SKE shares. CIBC dropped their price objective on shares of Skeena Resources from C$17.00 to C$16.00 in a research note on Monday, December 2nd. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada upped their price objective on Skeena Resources from C$17.00 to C$18.00 in a research note on Friday, December 6th.

Skeena Resources Stock Up 9.3 %

The company has a debt-to-equity ratio of 10.23, a current ratio of 2.88 and a quick ratio of 1.55. The business has a 50 day simple moving average of C$12.84 and a 200 day simple moving average of C$11.26. The company has a market capitalization of C$1.52 billion, a price-to-earnings ratio of -9.31 and a beta of 1.65.

Insider Transactions at Skeena Resources

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

About Skeena Resources

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.