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

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SKE. Royal Bank of Canada raised their target price on Skeena Resources from C$17.00 to C$18.00 in a report on Friday, December 6th. Scotiabank lifted their price objective on Skeena Resources from C$13.50 to C$14.00 in a research note on Wednesday. CIBC decreased their price objective on Skeena Resources from C$17.00 to C$16.00 in a research note on Monday, December 2nd. Finally, Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research note on Thursday, October 31st.

Skeena Resources Stock Performance

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

Insiders Place Their Bets

In other news, Director Craig Andrew Parry sold 70,000 shares of the business’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 value of C$740,509.00. 1.51% of the stock is currently owned by corporate 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.