Andrew Macritchie Sells 37,600 Shares of Skeena Resources (TSE:SKE) Stock

Key Points

• Insider selling: Skeena Resources insider Andrew Macritchie sold 37,600 shares on July 6 at C$40.10 each, totaling about C$1.51 million. The sale reduced his holdings by 4.62%, and he had also sold 19,200 shares on July 3.
• Stock moved lower: Skeena Resources shares fell to C$36.86 in Wednesday trading, down C$1.39 on the day. Trading volume was above average, with 681,365 shares changing hands versus a 420,392 average.
• Analyst outlook remains positive: Despite recent weakness, analysts still view the stock favorably, with a consensus Buy rating and an average price target of C$47.43. Recent updates from Canaccord and BMO also raised their targets to C$52.00 and C$50.00, respectively.

Skeena Resources Limited (TSE:SKE - Get Free Report) insider Andrew Macritchie sold 37,600 shares of the stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of C$40.10, for a total transaction of C$1,507,760.00. Following the transaction, the insider owned 776,503 shares in the company, valued at approximately C$31,137,770.30. This trade represents a 4.62% decrease in their position.

Andrew Macritchie also recently made the following trade(s):

• On Friday, July 3rd, Andrew Macritchie sold 19,200 shares of Skeena Resources stock. The shares were sold at an average price of C$42.00, for a total transaction of C$806,400.00.

Skeena Resources Stock Performance

Shares of TSE SKE traded down C$1.39 during midday trading on Wednesday, hitting C$36.86. 681,365 shares of the stock traded hands, compared to its average volume of 420,392. The firm has a 50-day moving average of C$40.25 and a two-hundred day moving average of C$41.10. The firm has a market capitalization of C$4.57 billion, a P/E ratio of -17.64 and a beta of 2.49. The company has a debt-to-equity ratio of 36.02, a quick ratio of 1.55 and a current ratio of 0.49. Skeena Resources Limited has a one year low of C$19.14 and a one year high of C$53.00.

Skeena Resources (TSE:SKE - Get Free Report) last issued its quarterly earnings data on Friday, May 15th. The company reported C($0.86) EPS for the quarter. On average, equities analysts forecast that Skeena Resources Limited will post -0.4862973 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SKE. Canaccord Genuity Group increased their price objective on shares of Skeena Resources from C$40.00 to C$52.00 in a research note on Wednesday, April 1st. BMO Capital Markets upped their target price on shares of Skeena Resources from C$45.00 to C$50.00 in a report on Wednesday, April 1st. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$47.43.

Skeena Resources Company Profile

Skeena Resources Ltd is a Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The company's primary activity is the exploration and development of the past-producing Eskay Creek mine acquired from Barrick.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.