Skeena Resources (TSE:SKE) Insider Andrew Macritchie Sells 50,000 Shares

Key Points

• Insider sale: Andrew Macritchie sold 50,000 Skeena Resources shares at an average C$39.86, generating approximately C$1.99 million. He retained 726,503 shares, a 6.44% reduction in his ownership.
• Recent trading performance: Skeena shares fell C$0.48 to C$37.74, below their 50-day average of C$38.98 and 200-day average of C$41.47. The stock has traded between C$19.14 and C$53.00 over the past year.
• Analyst outlook: Analysts maintain a consensus “Buy” rating with an average price target of C$47.43; Canaccord Genuity and BMO recently raised their targets to C$52 and C$50, respectively.

Skeena Resources Limited (TSE:SKE - Get Free Report) insider Andrew Macritchie sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of C$39.86, for a total transaction of C$1,993,000.00. Following the sale, the insider directly owned 726,503 shares of the company's stock, valued at approximately C$28,958,409.58. This represents a 6.44% decrease in their ownership of the stock.

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

• On Friday, July 3rd, Andrew Macritchie sold 19,200 shares of Skeena Resources stock. The stock was sold at an average price of C$42.00, for a total transaction of C$806,400.00.
• On Monday, July 6th, Andrew Macritchie sold 37,600 shares of Skeena Resources stock. The stock was sold at an average price of C$40.10, for a total transaction of C$1,507,760.00.

Skeena Resources Stock Performance

Shares of SKE stock traded down C$0.48 during mid-day trading on Monday, reaching C$37.74. 114,973 shares of the company's stock traded hands, compared to its average volume of 423,203. The company has a debt-to-equity ratio of 36.02, a quick ratio of 1.55 and a current ratio of 0.49. The firm has a market capitalization of C$4.68 billion, a PE ratio of -18.06 and a beta of 2.49. 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 price of C$38.98 and a two-hundred day moving average price of C$41.47.

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 for the quarter. On average, research analysts forecast that Skeena Resources Limited will post -0.4862973 EPS for the current year.

Wall Street Analysts Forecast Growth

SKE has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on shares of Skeena Resources from C$40.00 to C$52.00 in a report on Wednesday, April 1st. BMO Capital Markets lifted their price target on shares of Skeena Resources from C$45.00 to C$50.00 in a report on Wednesday, April 1st. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of C$47.43.

About Skeena Resources

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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