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

Shares of Skeena Resources Limited (NYSE:SKE) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat 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.

SKE has been the subject of several recent research reports. Wall Street Zen upgraded Skeena Resources from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Skeena Resources in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st.

Skeena Resources Stock Up 1.3%

SKE opened at $33.74 on Monday. Skeena Resources has a 52-week low of $8.53 and a 52-week high of $38.77. The company has a 50 day moving average of $30.58 and a two-hundred day moving average of $22.88. The company has a market cap of $4.09 billion, a P/E ratio of -46.22 and a beta of 1.17.

Institutional Trading of Skeena Resources

A number of hedge funds have recently made changes to their positions in SKE. Helikon Investments Ltd increased its stake in Skeena Resources by 20.3% during the 3rd quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock worth $310,948,000 after buying an additional 2,841,708 shares during the period. Vanguard Group Inc. grew its stake in Skeena Resources by 108.3% during the 4th quarter. Vanguard Group Inc. now owns 2,625,277 shares of the company’s stock valued at $62,353,000 after purchasing an additional 1,364,835 shares in the last quarter. Amundi increased its holdings in Skeena Resources by 43.4% during the 2nd quarter. Amundi now owns 2,258,524 shares of the company’s stock worth $35,640,000 after purchasing an additional 683,524 shares during the last quarter. Millennium Management LLC increased its holdings in Skeena Resources by 44.6% during the 4th quarter. Millennium Management LLC now owns 2,202,510 shares of the company’s stock worth $52,309,000 after purchasing an additional 679,709 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Skeena Resources by 16.5% in the 3rd quarter. Van ECK Associates Corp now owns 4,741,607 shares of the company’s stock valued at $87,404,000 after purchasing an additional 670,200 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.