Skeena Resources (TSE:SKE) Shares Up 2.1% – Should You Buy?

Skeena Resources Limited (TSE:SKE) was up 2.1% during trading on Friday . The stock traded as high as C$13.44 and last traded at C$13.41. Approximately 296,787 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 324,396 shares. The stock had previously closed at C$13.13.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Skeena Resources from C$17.00 to C$18.00 in a research note on Friday, December 6th. Desjardins raised shares of Skeena Resources to a “moderate buy” rating in a research report on Thursday, October 31st. Finally, CIBC lowered their price target on shares of Skeena Resources from C$17.00 to C$16.00 in a report on Monday, December 2nd. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Skeena Resources presently has a consensus rating of “Buy” and a consensus target price of C$16.96.

Skeena Resources Price Performance

The business has a fifty day moving average of C$12.97 and a 200-day moving average of C$10.69. The company has a debt-to-equity ratio of 10.23, a quick ratio of 1.55 and a current ratio of 2.88. The firm has a market capitalization of C$1.43 billion, a P/E ratio of -8.76 and a beta of 1.65.

Insider Transactions at Skeena Resources

In related news, Director Craig Andrew Parry sold 70,000 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of C$10.58, for a total transaction of C$740,509.00. Company insiders own 1.51% of the company’s stock.

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.