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

Skeena Resources Limited (NYSE:SKE) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company.

A number of research firms recently weighed in on SKE. Wall Street Zen raised shares of Skeena Resources from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday, October 8th. Raymond James Financial restated a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Scotiabank reiterated an “outperform” rating on shares of Skeena Resources in a report on Thursday, October 23rd. Finally, Desjardins raised Skeena Resources to a “moderate buy” rating in a research note on Wednesday, October 8th.

Skeena Resources Trading Up 3.2%

Shares of SKE opened at $25.62 on Friday. The company’s 50-day moving average price is $21.39 and its 200 day moving average price is $18.32. Skeena Resources has a 12-month low of $8.53 and a 12-month high of $26.05. The firm has a market cap of $3.10 billion, a P/E ratio of -35.09 and a beta of 1.22.

Skeena Resources (NYSE:SKE) last announced its earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Equities research analysts forecast that Skeena Resources will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Helikon Investments Ltd increased its position in shares of Skeena Resources by 20.3% in the 3rd quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock valued at $310,948,000 after purchasing an additional 2,841,708 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Skeena Resources by 16.5% during the third quarter. Van ECK Associates Corp now owns 4,741,607 shares of the company’s stock worth $87,404,000 after purchasing an additional 670,200 shares in the last quarter. Amundi increased its holdings in Skeena Resources by 10.2% in the third quarter. Amundi now owns 2,488,622 shares of the company’s stock valued at $45,144,000 after buying an additional 230,098 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Skeena Resources by 1.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,539,488 shares of the company’s stock valued at $24,503,000 after buying an additional 15,450 shares during the last quarter. Finally, TD Asset Management Inc raised its stake in Skeena Resources by 16.3% in the third quarter. TD Asset Management Inc now owns 1,484,909 shares of the company’s stock valued at $27,352,000 after buying an additional 208,095 shares in the last quarter. Hedge funds and other institutional investors own 45.15% of the company’s stock.

About Skeena Resources

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.