Skeena Resources (NYSE:SKE) Rating Increased to Moderate Buy at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Skeena Resources (NYSE:SKE) to a moderate buy rating in a report issued on Tuesday morning,Zacks reports.

Several other research analysts have also commented on the company. Wall Street Zen raised Skeena Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a research report on Friday, July 17th. Finally, Zacks Research upgraded Skeena Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Skeena Resources has a consensus rating of “Moderate Buy”.

Skeena Resources Price Performance

NYSE SKE opened at $29.78 on Tuesday. The company has a market cap of $3.74 billion, a PE ratio of -19.85 and a beta of 1.16. The firm’s 50 day moving average price is $30.44 and its 200-day moving average price is $30.21. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15. Skeena Resources has a 52-week low of $15.43 and a 52-week high of $38.77.

Skeena Resources (NYSE:SKE) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). Sell-side analysts forecast that Skeena Resources will post -1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Skeena Resources

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in Skeena Resources by 99.7% in the 2nd quarter. Van ECK Associates Corp now owns 9,017,001 shares of the company’s stock worth $240,403,000 after purchasing an additional 4,501,723 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Skeena Resources during the 2nd quarter valued at approximately $19,768,000. Bornite Capital Management LP purchased a new position in shares of Skeena Resources in the fourth quarter worth $12,423,000. BW Gestao de Investimentos Ltda. purchased a new position in shares of Skeena Resources in the fourth quarter worth $10,397,000. Finally, Bank of America Corp DE acquired a new stake in shares of Skeena Resources during the second quarter worth $9,913,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

About Skeena Resources

Skeena Resources Limited is a Canadian mineral exploration and development company focused on advancing precious-metals projects in British Columbia’s Golden Triangle. The company is not currently a producing mining company and is primarily engaged in exploration, project evaluation, permitting, engineering and mine-development activities.

Skeena’s principal asset is the Eskay Creek gold-silver project, a past-producing mine that operated in northwestern British Columbia during the 1990s and 2000s.