Insider Selling: Skeena Resources (TSE:SKE) Insider Sells 19,200 Shares of Stock

Key Points

• Insider selling: Skeena Resources insider Andrew Macritchie sold 19,200 shares on July 3 at C$42.00 each, for about C$806,400. He also sold another 37,600 shares on July 6 at C$40.10, reducing his holdings by 2.30% after the first sale.
• Stock moved lower: Skeena Resources shares fell 3.6% to C$36.86, with trading volume above average. The stock has ranged from C$19.14 to C$53.00 over the past 12 months.
• Analysts remain bullish: The stock currently has an average Buy rating and a consensus price target of C$47.43. Recent target increases from Canaccord Genuity and BMO Capital Markets suggest continued optimism.

Skeena Resources Limited (TSE:SKE - Get Free Report) insider Andrew Macritchie sold 19,200 shares of the stock in a transaction dated Friday, July 3rd. The stock was sold at an average price of C$42.00, for a total transaction of C$806,400.00. Following the sale, the insider directly owned 814,103 shares in the company, valued at C$34,192,326. This represents a 2.30% decrease in their position.

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

• On Monday, July 6th, Andrew Macritchie sold 37,600 shares of Skeena Resources stock. The shares were sold at an average price of C$40.10, for a total transaction of C$1,507,760.00.

Skeena Resources Stock Down 3.6%

SKE traded down C$1.39 during trading hours on Wednesday, hitting C$36.86. 681,365 shares of the company's stock were exchanged, compared to its average volume of 420,392. Skeena Resources Limited has a 12-month low of C$19.14 and a 12-month high of C$53.00. The firm has a 50 day moving average of C$40.25 and a 200 day moving average of C$41.10. The firm has a market cap of C$4.57 billion, a P/E ratio of -17.64 and a beta of 2.49. The company has a current ratio of 0.49, a quick ratio of 1.55 and a debt-to-equity ratio of 36.02.

Skeena Resources (TSE:SKE - Get Free Report) last released its earnings results on Friday, May 15th. The company reported C($0.86) earnings per share (EPS) for the quarter. Analysts predict that Skeena Resources Limited will post -0.4862973 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on SKE shares. Canaccord Genuity Group increased their price objective on shares of Skeena Resources from C$40.00 to C$52.00 in a research report on Wednesday, April 1st. BMO Capital Markets boosted their target price on shares of Skeena Resources from C$45.00 to C$50.00 in a research note on Wednesday, April 1st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average 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.

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