Skeena Resources (TSE:SKE) Trading Up 2.3% – Here’s What Happened

Skeena Resources Limited (TSE:SKE)’s stock price shot up 2.3% during mid-day trading on Wednesday . The company traded as high as C$14.79 and last traded at C$14.54. 226,723 shares were traded during mid-day trading, a decline of 16% from the average session volume of 271,334 shares. The stock had previously closed at C$14.21.

Wall Street Analyst Weigh In

SKE has been the topic of several recent research reports. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their price objective on Skeena Resources from C$17.00 to C$18.00 in a research note on Friday, December 6th. Scotiabank boosted their target price on Skeena Resources from C$13.50 to C$14.00 in a report on Wednesday, January 15th. Finally, CIBC lowered their price target on Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd.

Skeena Resources Stock Up 2.3 %

The firm has a 50-day moving average of C$14.12 and a two-hundred day moving average of C$12.65. The firm has a market cap of C$1.59 billion, a price-to-earnings ratio of -8.78 and a beta of 1.65. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 19.27.

Insider Buying and Selling at Skeena Resources

In other news, Senior Officer Andrew Macritchie sold 33,540 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of C$14.20, for a total transaction of C$476,268.00. Also, Senior Officer Randy Reichert sold 17,956 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of C$13.89, for a total value of C$249,430.39. Insiders sold a total of 192,488 shares of company stock valued at $2,882,390 in the last ninety days. Company 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.