Skyharbour Resources (CVE:SYH) Shares Down 7.5% - Time to Sell?

Key Points

• Skyharbour Resources shares experienced a significant decline of 7.5%, trading as low as C$0.35 before closing at C$0.37.
• Investment analysts maintain a buy rating for the stock, with a target price set at C$1.01, despite the recent drop in share price.
• The company, which focuses on uranium mineral properties, has a market cap of C$75.65 million and a price-to-earnings ratio of -19.84.

Skyharbour Resources Ltd. (CVE:SYH - Get Free Report) shares dropped 7.5% during mid-day trading on Friday . The stock traded as low as C$0.35 and last traded at C$0.37. Approximately 1,589,367 shares traded hands during trading, an increase of 243% from the average daily volume of 463,097 shares. The stock had previously closed at C$0.40.

Analyst Ratings Changes

Separately, Fundamental Research set a C$1.01 target price on shares of Skyharbour Resources and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Skyharbour Resources has a consensus rating of "Buy" and a consensus target price of C$1.01.

Skyharbour Resources Trading Down 7.5%

The stock has a 50-day simple moving average of C$0.40 and a 200 day simple moving average of C$0.35. The company has a market cap of C$75.65 million, a price-to-earnings ratio of -19.84 and a beta of 1.04.

About Skyharbour Resources

Skyharbour Resources Ltd. engages in acquisition, exploration, and evaluation of uranium mineral properties. The company holds 51% interest in the Preston Uranium project covering an area of 49,635 hectares; 80% interest in the Hook Lake project consisting of 16 contiguous mineral claims covering an area of 25,847 hectares; and 100% earn-in option to acquire interest in the Yurchison project comprising 13 claims totaling area of 57,407 hectares located in Saskatchewan, Canada.

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