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

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

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

Skeena Resources Trading Down 0.3%

Shares of SKE stock opened at $31.42 on Friday. Skeena Resources has a 1 year low of $15.43 and a 1 year high of $38.77. The firm’s fifty day simple moving average is $31.06 and its 200 day simple moving average is $30.06. The firm has a market capitalization of $3.94 billion, a P/E ratio of -20.95 and a beta of 1.16. 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 (NYSE:SKE) last released its earnings results on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.10). As a group, sell-side analysts predict that Skeena Resources will post -1.29 EPS for the current year.

Institutional Trading of Skeena Resources

Institutional investors and hedge funds have recently modified their holdings of the company. Van ECK Associates Corp lifted its position in Skeena Resources by 99.7% in the second 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 during the period. Bornite Capital Management LP increased its holdings in Skeena Resources by 23.4% in the 2nd quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company’s stock valued at $43,152,000 after buying an additional 307,600 shares during the period. TD Asset Management Inc increased 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 buying an additional 25,483 shares during the period. Royal Bank of Canada raised its stake in shares of 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 buying an additional 55,463 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Skeena Resources in the 2nd quarter valued at $19,768,000. 45.15% of the stock is currently owned by 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.