Skeena Resources (TSE:SKE) Shares Up 3.4% – Time to Buy?

Shares of Skeena Resources Limited (TSE:SKE) traded up 3.4% on Tuesday. The stock traded as high as C$44.99 and last traded at C$44.62. Approximately 257,924 shares changed hands during trading, a decline of 33% from the average session volume of 383,793 shares. The stock had previously closed at C$43.17.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada set a C$64.00 target price on shares of Skeena Resources and gave the company a “moderate buy” rating in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$52.83.

Skeena Resources Stock Performance

The stock has a 50 day simple moving average of C$44.33 and a 200 day simple moving average of C$41.80. The company has a current ratio of 3.15, a quick ratio of 1.55 and a debt-to-equity ratio of 657.17. The stock has a market cap of C$5.61 billion, a P/E ratio of -21.60 and a beta of 2.59.

Skeena Resources (TSE:SKE) last released its earnings results on Thursday, August 13th. The company reported C($0.28) earnings per share (EPS) for the quarter. On average, equities analysts expect that Skeena Resources Limited will post -0.4862973 earnings per share for the current year.

Insider Transactions at Skeena Resources

In other news, insider Andrew Macritchie sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of C$39.86, for a total value of C$1,993,000.00. Following the completion of the transaction, the insider directly owned 726,503 shares in the company, valued at approximately C$28,958,409.58. The trade was a 6.44% decrease in their position. 1.51% of the stock is owned by insiders.

Skeena Resources Company Profile

Skeena is a leading precious metals development company focused on advancing the Eskay Creek Gold-Silver Project in British Columbia’s Golden Triangle. With the Project fully permitted and under construction, the Company is progressing Eskay Creek towards initial production and cash flow in the second quarter of 2027. Once in operation, Eskay Creek is expected to be one of the world’s highest-grade and lowest-cost open-pit precious metals mines, with significant silver by-product production that exceeds the output of many primary silver mines.