Skeena Resources (NYSE:SKE) Sets New 12-Month High – Still a Buy?

Skeena Resources Limited (NYSE:SKE)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.24 and last traded at $36.3940, with a volume of 663002 shares changing hands. The stock had previously closed at $36.01.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SKE. Scotiabank restated an “outperform” rating on shares of Skeena Resources in a research note on Monday, January 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. Finally, Wall Street Zen raised Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Up 1.1%

The firm has a market cap of $4.41 billion, a price-to-earnings ratio of -49.85 and a beta of 1.22. The stock’s 50 day moving average is $28.98 and its 200 day moving average is $21.95.

Institutional Trading of Skeena Resources

Several institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in Skeena Resources during the fourth quarter valued at about $43,000. PNC Financial Services Group Inc. lifted its holdings in Skeena Resources by 431.1% in 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 last quarter. Russell Investments Group Ltd. bought a new position in shares of Skeena Resources during the 4th quarter valued at about $45,000. Cubist Systematic Strategies LLC bought a new position in shares of Skeena Resources during the 1st quarter valued at about $89,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Skeena Resources in the 4th quarter worth approximately $98,000. Institutional investors and hedge funds own 45.15% of the company’s stock.

Skeena Resources Company Profile

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.