Skeena Resources (TSE:SKE) Trading 9.1% Higher – Still a Buy?

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SKE shares. CIBC cut their price target on Skeena Resources from C$17.00 to C$16.00 in a research note on Monday, December 2nd. Scotiabank boosted their price objective on Skeena Resources from C$13.50 to C$14.00 in a research report on Wednesday, January 15th. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price target on shares of Skeena Resources from C$17.00 to C$18.00 in a report on Friday, December 6th.

Skeena Resources Stock Up 0.3 %

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 fifty day simple moving average of C$13.55 and a 200 day simple moving average of C$12.02. The firm has a market cap of C$1.69 billion, a price-to-earnings ratio of -10.37 and a beta of 1.65.

Insider Buying and Selling at Skeena Resources

In related news, Director Craig Andrew Parry sold 70,000 shares of Skeena Resources 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. Also, Senior Officer Randy Reichert sold 17,956 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of C$13.89, for a total value of C$249,430.39. In the last 90 days, insiders have sold 169,496 shares of company stock worth $2,141,625. 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.