Skeena Resources Limited (NYSE:SKE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Skeena Resources Limited (NYSE:SKE) have been given an average rating of “Moderate Buy” by the seven brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company.

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Friday, July 17th. Royal Bank Of Canada raised Skeena Resources to a “moderate buy” rating in a research report on Tuesday. Zacks Research upgraded Skeena Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Wall Street Zen raised Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th.

Institutional Investors Weigh In On Skeena Resources

Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings 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 valued at $240,403,000 after buying an additional 4,501,723 shares in the last quarter. Bornite Capital Management LP boosted its position in shares of Skeena Resources by 23.4% in the second quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company’s stock valued at $43,152,000 after acquiring an additional 307,600 shares during the period. Royal Bank of Canada boosted its holdings in Skeena Resources by 4.5% in the 1st quarter. Royal Bank of Canada now owns 1,291,911 shares of the company’s stock valued at $38,395,000 after purchasing an additional 55,463 shares during the period. TD Asset Management Inc boosted its holdings in Skeena Resources by 1.7% in the 4th quarter. TD Asset Management Inc now owns 1,510,392 shares of the company’s stock valued at $35,921,000 after purchasing an additional 25,483 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Skeena Resources during the 2nd quarter worth approximately $19,768,000. 45.15% of the stock is currently owned by institutional investors and hedge funds.

Skeena Resources Stock Up 5.1%

Shares of SKE stock opened at $31.35 on Friday. The firm’s fifty day moving average price is $30.52 and its two-hundred day moving average price is $30.16. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 5.66. Skeena Resources has a 1 year low of $15.43 and a 1 year high of $38.77. The firm has a market capitalization of $3.93 billion, a P/E ratio of -20.90 and a beta of 1.16.

Skeena Resources (NYSE:SKE) last announced its quarterly earnings data 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). On average, equities analysts predict that Skeena Resources will post -1.29 EPS for the current fiscal year.

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.