Skeena Resources (TSE:SKE) Trading 9.1% Higher – Here’s What Happened

Skeena Resources Limited (TSE:SKE) traded up 9.1% during mid-day trading on Wednesday . The company traded as high as C$16.04 and last traded at C$16.02. 191,051 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 212,519 shares. The stock had previously closed at C$14.69.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Scotiabank increased their price target on shares of Skeena Resources from C$13.50 to C$14.00 in a research report on Wednesday, January 15th. Royal Bank of Canada lifted their price target on shares of Skeena Resources from C$17.00 to C$18.00 in a research note on Friday, December 6th. Desjardins raised Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st. Finally, CIBC dropped their price objective on Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd.

Skeena Resources Trading Up 11.9 %

The firm has a fifty day moving average price of C$13.42 and a 200-day moving average price of C$11.93. The company has a market capitalization of C$1.75 billion, a price-to-earnings ratio of -10.75 and a beta of 1.65. The company has a debt-to-equity ratio of 10.23, a quick ratio of 1.55 and a current ratio of 2.88.

Insider Transactions at Skeena Resources

In related news, Senior Officer Randy Reichert sold 17,956 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of C$13.89, for a total transaction of C$249,430.39. Also, Director Craig Andrew Parry sold 70,000 shares of the business’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. Insiders sold 169,496 shares of company stock worth $2,141,625 over the last ninety days. 1.51% of the stock is owned by insiders.

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.