Skeena Resources Limited (SKE) – What Are Investment Firms Thinking About This Stock?

Skeena Resources Limited (NYSE:SKE) has been assigned an average rating of “Hold” from the five analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating on the company.

Several equities research analysts have weighed in on SKE shares. Wall Street Zen upgraded Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Royal Bank Of Canada upgraded shares of Skeena Resources to a “moderate buy” rating in a report on Tuesday, September 15th. Zacks Research lowered Skeena Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research report on Thursday, October 15th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its holdings in shares of Skeena Resources by 99.7% in the second quarter. Van ECK Associates Corp now owns 9,017,001 shares of the company’s stock valued at $240,403,000 after acquiring an additional 4,501,723 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Skeena Resources during the second quarter worth about $19,768,000. Bank of America Corp DE acquired a new position in Skeena Resources in the second quarter valued at about $9,913,000. Bornite Capital Management LP boosted its stake in shares of Skeena Resources by 23.4% during the second quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company’s stock valued at $43,152,000 after purchasing an additional 307,600 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of Skeena Resources during the 2nd quarter valued at about $7,523,000. Institutional investors own 45.15% of the company’s stock.

Skeena Resources Price Performance

NYSE:SKE opened at $30.84 on Friday. Skeena Resources has a 52-week low of $15.86 and a 52-week high of $38.77. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15. The company has a market cap of $3.87 billion, a P/E ratio of -20.56 and a beta of 1.19. The stock’s 50-day simple moving average is $30.73 and its 200 day simple moving average is $30.56.

Skeena Resources (NYSE:SKE) last announced its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). As a group, sell-side analysts forecast that Skeena Resources will post -1.21 EPS for the current fiscal year.

Skeena Resources Company Profile

Skeena Resources Limited (NYSE:SKE) is a Canadian mineral exploration and development company focused on advancing precious-metal projects in British Columbia. Its primary asset is the Eskay Creek gold-silver project in the Golden Triangle region of northwest British Columbia.

Eskay Creek was previously an operating underground mine and produced gold and silver before closing in 2008. Skeena acquired the project in 2017 and is working to redevelop it as a modern open-pit mining operation.