Skeena Resources (TSE:SKE) Stock Price Up 0.8% - Here's Why

Key Points

• Skeena Resources stock rose 0.8% to C$21.67, with a total trading volume of 345,423 shares, up 22% from the average.
• Analysts from Royal Bank of Canada and CIBC raised their target prices for Skeena Resources to C$26.00, indicating an "outperform" rating.
• Recent insider activity includes significant share sales by company directors, totaling nearly C$735,000 in the last ninety days, representing 1.51% ownership by corporate insiders.

Skeena Resources Limited (TSE:SKE - Get Free Report) traded up 0.8% on Thursday . The company traded as high as C$21.88 and last traded at C$21.67. 345,423 shares changed hands during trading, an increase of 22% from the average session volume of 283,004 shares. The stock had previously closed at C$21.50.

Wall Street Analysts Forecast Growth

SKE has been the subject of several recent research reports. Royal Bank Of Canada lifted their target price on shares of Skeena Resources from C$23.00 to C$26.00 and gave the company an "outperform" rating in a report on Monday, June 23rd. CIBC lifted their price objective on Skeena Resources from C$19.00 to C$26.00 in a research note on Monday, July 21st.

Skeena Resources Stock Up 0.8%

The company has a debt-to-equity ratio of 19.27, a quick ratio of 1.55 and a current ratio of 1.87. The company has a market capitalization of C$2.38 billion, a PE ratio of -13.09 and a beta of 1.65. The company's 50-day moving average is C$20.83 and its 200 day moving average is C$17.18.

Insider Activity

In related news, Director Craig Andrew Parry sold 16,500 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of C$18.29, for a total value of C$301,847.70. Also, Senior Officer Paul Geddes sold 5,200 shares of Skeena Resources stock in a transaction on Friday, May 16th. The stock was sold at an average price of C$15.62, for a total value of C$81,248.44. In the last ninety days, insiders have sold 43,986 shares of company stock worth $734,961. 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.

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