Skeena Resources (TSE:SKE) Stock Price Up 7.6% - Here's What Happened

Skeena Resources Limited (TSE:SKE) saw its stock price rise by 7.6% during trading on Tuesday. The stock reached a high of C$14.06 before settling at C$14.03. During mid-day trading, around 144,350 shares changed hands, which is a 29% decrease compared to the average daily trading volume of 202,008 shares. Previously, the stock had closed at C$13.04.

Wall Street Analyst Insights

Equities analysts have been active in recent reports concerning Skeena Resources shares. For instance, CIBC revised its price target on Skeena from C$17.00 down to C$16.00 in a research note issued on December 2. Meanwhile, Desjardins raised Skeena Resources to a "moderate buy" rating in a report dated October 31. Additionally, Royal Bank of Canada increased its price target from C$17.00 to C$18.00 on December 6.

Current Stock Metrics

The company exhibits a debt-to-equity ratio of 10.23 and has a current ratio of 2.88, alongside a quick ratio of 1.55. The stock has a 50-day simple moving average of C$12.84 and a 200-day simple moving average of C$11.26, with a market capitalization of C$1.52 billion. Currently, its price-to-earnings ratio stands at -9.31, and the stock has a beta of 1.65, indicating its volatility in the market.

Insider Activity at Skeena Resources

In recent corporate news, Director Craig Andrew Parry sold 70,000 shares of Skeena Resources on November 14, with the shares priced at an average of C$10.58, totaling C$740,509. Corporate insiders hold about 1.51% of the company’s stock.

About Skeena Resources

Skeena Resources Limited is focused on exploring and developing mineral properties within Canada. The company primarily searches for deposits of gold, silver, copper, and other precious metals. It holds complete ownership of the Snip gold mine, which includes one mining lease and nine mineral tenures spanning approximately 4,724 hectares. Additionally, Skeena manages the Eskay Creek gold mine, which comprises eight mineral leases, two surface leases, and various unpatented mining claims, covering a total area of 7,666 hectares located in British Columbia, Canada.

Skeena, Stocks, Trading