Skeena Resources (TSE:SKE) Shares 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) shot up 0.8% on Thursday . The stock traded as high as C$21.88 and last traded at C$21.67. 345,423 shares traded hands during mid-day 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 Analyst Weigh In

Several research firms have recently weighed in on SKE. Royal Bank Of Canada lifted their price objective on Skeena Resources from C$23.00 to C$26.00 and gave the company an "outperform" rating in a research note 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 Down 1.2%

The firm has a market capitalization of C$2.36 billion, a price-to-earnings ratio of -13.00 and a beta of 1.65. The company has a current ratio of 1.87, a quick ratio of 1.55 and a debt-to-equity ratio of 19.27. The firm has a 50 day moving average price of C$20.96 and a two-hundred day moving average price of C$17.33.

Insider Transactions at Skeena Resources

In related news, Senior Officer Kyle Christopher Foster sold 1,475 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of C$17.38, for a total transaction of C$25,635.50. Following the transaction, the insider directly owned 673 shares of the company's stock, valued at approximately C$11,696.74. The trade was a 68.67% decrease in their position. Also, Senior Officer Randy Reichert sold 19,094 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of C$15.62, for a total value of C$298,338.02. Over the last quarter, insiders sold 43,986 shares of company stock valued at $734,961. 1.51% of the stock is currently owned by company insiders.

Skeena Resources Company Profile

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.