Skeena Resources Limited (NYSE:SKE) Stock Rated “Hold” by Wall Street Brokerages

Skeena Resources Limited (NYSE:SKE) has earned an average rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company.

A number of analysts have recently issued reports on SKE shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research note on Thursday, October 15th. Wall Street Zen upgraded shares of Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Zacks Research downgraded shares of Skeena Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 22nd. Finally, Royal Bank Of Canada upgraded shares of Skeena Resources to a “moderate buy” rating in a report on Tuesday, September 15th.

Skeena Resources Stock Up 5.1%

Shares of SKE opened at $30.84 on Friday. The firm has a market cap of $3.87 billion, a P/E ratio of -20.56 and a beta of 1.19. The firm’s 50-day simple moving average is $30.73 and its 200 day simple moving average is $30.56. Skeena Resources has a 52 week low of $15.86 and a 52 week high of $38.77. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15.

Skeena Resources (NYSE:SKE) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). On average, analysts forecast that Skeena Resources will post -1.21 earnings per share for the current year.

Hedge Funds Weigh In On Skeena Resources

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its stake 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 valued at $240,403,000 after acquiring an additional 4,501,723 shares during the last quarter. Bornite Capital Management LP increased its position in Skeena Resources by 23.4% during the second quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company’s stock worth $43,152,000 after buying an additional 307,600 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Skeena Resources by 4.5% in the first 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 during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Skeena Resources during the second quarter worth $19,768,000. Finally, Groupe la Francaise raised its stake in Skeena Resources by 1.1% during the second quarter. Groupe la Francaise now owns 455,000 shares of the company’s stock worth $12,132,000 after buying an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.

Skeena Resources Company Profile

Skeena Resources Limited (NYSE:SKE) is a Canadian mineral exploration and development company focused on advancing precious-metal projects in British Columbia. Its primary asset is the Eskay Creek gold-silver project in the Golden Triangle region of northwest British Columbia.

Eskay Creek was previously an operating underground mine and produced gold and silver before closing in 2008. Skeena acquired the project in 2017 and is working to redevelop it as a modern open-pit mining operation.