Skeena Resources (NYSE:SKE) Stock Price Up 7.7% – Time to Buy?

Skeena Resources Limited (NYSE:SKE)’s share price rose 7.7% during trading on Friday . The stock traded as high as $28.08 and last traded at $28.0690. Approximately 378,895 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 853,872 shares. The stock had previously closed at $26.06.

Wall Street Analysts Forecast Growth

SKE has been the subject of several research analyst reports. Wall Street Zen cut Skeena Resources from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Skeena Resources has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Up 7.7%

The company has a market capitalization of $3.42 billion, a PE ratio of -18.59 and a beta of 1.11. The firm’s 50 day simple moving average is $30.50 and its 200 day simple moving average is $29.03.

Institutional Investors Weigh In On Skeena Resources

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKE. Helikon Investments Ltd grew its stake in Skeena Resources by 20.3% in the 3rd quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock worth $310,948,000 after acquiring an additional 2,841,708 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Skeena Resources by 2.5% in the 4th quarter. Van ECK Associates Corp now owns 4,862,516 shares of the company’s stock worth $115,427,000 after buying an additional 120,909 shares during the period. Vanguard Group Inc. grew its position in shares of Skeena Resources by 108.3% during the 4th quarter. Vanguard Group Inc. now owns 2,625,277 shares of the company’s stock worth $62,353,000 after buying an additional 1,364,835 shares in the last quarter. Amundi grew its position in shares of Skeena Resources by 1.9% during the 4th quarter. Amundi now owns 2,536,138 shares of the company’s stock worth $60,183,000 after buying an additional 47,516 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Skeena Resources by 7.6% during the fourth quarter. Franklin Resources Inc. now owns 2,396,970 shares of the company’s stock valued at $56,933,000 after buying an additional 168,932 shares during the period. Institutional investors 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.