Skeena Resources (TSE:SKE) Trading Up 2.1% – Here’s What Happened

Skeena Resources Limited (TSE:SKE) was up 2.1% during mid-day trading on Friday . The company traded as high as C$13.44 and last traded at C$13.41. Approximately 296,787 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 324,396 shares. The stock had previously closed at C$13.13.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Desjardins upgraded shares of Skeena Resources to a “moderate buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada boosted their target price on Skeena Resources from C$17.00 to C$18.00 in a research report on Friday, December 6th. Finally, CIBC cut their price target on Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Skeena Resources presently has an average rating of “Buy” and an average target price of C$16.96.

Skeena Resources Trading Up 2.1 %

The stock has a fifty day moving average price of C$12.97 and a 200 day moving average price of C$10.72. The stock has a market cap of C$1.43 billion, a PE ratio of -8.76 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.

Insiders Place Their Bets

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