Eskay Mining (CVE:ESK) Trading 58.6% Higher – Here’s What Happened

Shares of Eskay Mining Corp. (CVE:ESK) were up 58.6% on Tuesday . The stock traded as high as C$0.48 and last traded at C$0.46. Approximately 830,858 shares changed hands during mid-day trading, an increase of 175% from the average daily volume of 302,054 shares. The stock had previously closed at C$0.29.

Key Stories Impacting Eskay Mining

Here are the key news stories impacting Eskay Mining this week:

• Positive Sentiment: Coverage and momentum—The AmericanBankingNews piece highlighting ESK’s rally can draw more retail and momentum buyers, reinforcing the price move. Article Title
• Neutral Sentiment: Technical position—Shares are trading above both the 50‑day and 200‑day averages, which can attract technical traders, but that is not a fundamental catalyst on its own.
• Negative Sentiment: No clear fundamental catalyst reported—The article does not cite new drill results, financing, or corporate developments to justify the move; ESK is loss-making (negative P/E), has a small market cap and a beta >2, so the rally may be speculative and vulnerable to a sharp reversal.

Wall Street Analysts Forecast Growth

Separately, Fundamental Research set a C$1.21 price target on shares of Eskay Mining and gave the stock a “buy” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$1.21.

Eskay Mining Stock Performance

The firm has a fifty day simple moving average of C$0.26 and a 200-day simple moving average of C$0.33. The company has a market capitalization of C$85.82 million, a PE ratio of -46.00 and a beta of 2.26.

Eskay Mining Company Profile

Eskay Mining Corp., a natural resource company, engages in the acquisition and exploration of mineral properties, and precious and base metal deposits in British Columbia, Canada. It holds 100% interests in the ESKAY-Corey property located in northwestern British Columbia. The company was formerly known as Kenrich-Eskay Mining Corp. and changed its name to Eskay Mining Corp. in November 2009. The company was founded in 1980 and is headquartered in Toronto, Canada.