Skeena Resources (TSE:SKE) Stock Price Up 2.3% - Here's Why

Skeena Resources Limited (TSE:SKE - Get Free Report)'s stock price rose 2.3% during mid-day trading on Wednesday . The company traded as high as C$14.79 and last traded at C$14.54. Approximately 226,723 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 271,334 shares. The stock had previously closed at C$14.21.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SKE. Scotiabank upped their target price on Skeena Resources from C$13.50 to C$14.00 in a research note on Wednesday, January 15th. CIBC decreased their target price on Skeena Resources from C$17.00 to C$16.00 in a research report on Monday, December 2nd. Finally, Royal Bank of Canada raised their price target on shares of Skeena Resources from C$17.00 to C$18.00 in a research note on Friday, December 6th.

Skeena Resources Stock Performance

The company has a fifty day moving average price of C$14.17 and a two-hundred day moving average price of C$12.77. The company has a debt-to-equity ratio of 19.27, a current ratio of 1.87 and a quick ratio of 1.55. The company has a market capitalization of C$1.56 billion, a P/E ratio of -8.62 and a beta of 1.65.

Insider Buying and Selling at Skeena Resources

In other Skeena Resources news, Director Craig Andrew Parry sold 23,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of C$14.00, for a total transaction of C$321,917.20. Also, Senior Officer Andrew Macritchie sold 33,540 shares of the firm's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of C$14.20, for a total transaction of C$476,268.00. In the last ninety days, insiders sold 192,488 shares of company stock worth $2,882,390. 1.51% of the stock is currently owned by company insiders.

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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.