Skeena Resources (NYSE:SKE) Hits New 12-Month High – Here’s What Happened

Skeena Resources Limited (NYSE:SKE) shares hit a new 52-week high during trading on Monday . The stock traded as high as $32.96 and last traded at $32.7740, with a volume of 222531 shares trading hands. The stock had previously closed at $31.39.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Skeena Resources in a report on Friday, October 10th. Wall Street Zen raised shares of Skeena Resources from a “sell” rating to a “hold” rating in a research report on Sunday. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research report on Wednesday, January 21st. Finally, Desjardins raised shares of Skeena Resources to a “moderate buy” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Performance

The company’s 50 day moving average price is $24.23 and its 200-day moving average price is $19.45. The company has a market cap of $4.24 billion, a PE ratio of -47.93 and a beta of 1.22.

Skeena Resources (NYSE:SKE) last issued its earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Equities research analysts expect that Skeena Resources Limited will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its holdings in Skeena Resources by 431.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after acquiring an additional 1,940 shares during the period. Advisory Services Network LLC purchased a new position in shares of Skeena Resources in the third quarter valued at $99,000. Cubist Systematic Strategies LLC purchased a new stake in Skeena Resources during the 1st quarter worth about $89,000. Jain Global LLC purchased a new stake in Skeena Resources during the 3rd quarter worth about $189,000. Finally, Cutler Capital Management LLC bought a new position in Skeena Resources in the 2nd quarter worth about $167,000. 45.15% of the stock is owned by institutional investors.

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.