Skeena Resources (TSE:SKE) Trading Down 3.4% – Here’s What Happened

Skeena Resources Limited (TSE:SKE) shares traded down 3.4% on Monday . The stock traded as low as C$14.63 and last traded at C$14.65. 219,583 shares changed hands during trading, a decline of 20% from the average session volume of 276,075 shares. The stock had previously closed at C$15.16.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Skeena Resources from C$17.00 to C$18.00 in a research note on Friday, December 6th. Scotiabank raised their price objective on Skeena Resources from C$13.50 to C$14.00 in a report on Wednesday, January 15th. Finally, CIBC reduced their price objective on Skeena Resources from C$17.00 to C$16.00 in a research report on Monday, December 2nd.

Skeena Resources Price Performance

The company has a 50 day moving average of C$14.57 and a 200 day moving average of C$13.23. The company has a debt-to-equity ratio of 19.27, a quick ratio of 1.55 and a current ratio of 1.87. The stock has a market capitalization of C$1.61 billion, a price-to-earnings ratio of -8.85 and a beta of 1.65.

Insider Activity

In other Skeena Resources news, Senior Officer Andrew Macritchie sold 59,992 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of C$15.67, for a total value of C$940,074.64. Also, Senior Officer Randy Reichert sold 17,956 shares of Skeena Resources stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of C$13.89, for a total transaction of C$249,430.39. In the last three months, insiders have sold 192,488 shares of company stock worth $2,882,390. 1.51% of the stock is currently owned by corporate insiders.

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.