Skeena Resources (TSE:SKE) Trading Up 8.9% – Time to Buy?

Skeena Resources Limited (TSE:SKE)’s stock price shot up 8.9% during mid-day trading on Tuesday . The stock traded as high as C$18.06 and last traded at C$18.03. 516,438 shares traded hands during mid-day trading, an increase of 87% from the average session volume of 275,851 shares. The stock had previously closed at C$16.55.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SKE shares. Raymond James increased their target price on shares of Skeena Resources from C$18.50 to C$21.00 in a research report on Friday, April 4th. Scotiabank increased their price objective on shares of Skeena Resources from C$13.50 to C$14.00 in a report on Wednesday, January 15th.

Skeena Resources Stock Performance

The company’s 50-day moving average price is C$15.02 and its two-hundred day moving average price is C$14.09. The company has a market cap of C$1.98 billion, a P/E ratio of -10.89 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.

Insider Buying and Selling

In related news, Director Walter Coles Jr. sold 25,000 shares of the stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of C$16.36, for a total value of C$408,985.00. 1.51% of the stock is currently owned by insiders.

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.