Skeena Resources (NYSE:SKE) Hits New 52-Week High – Still a Buy?

Shares of Skeena Resources Limited (NYSE:SKE) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.96 and last traded at $32.7740, with a volume of 222531 shares trading hands. The stock had previously closed at $31.39.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SKE shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a research report on Monday. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Skeena Resources has a consensus rating of “Moderate Buy”.

Skeena Resources Trading Up 3.3%

The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -44.50 and a beta of 1.22. The company’s 50-day moving average is $23.64 and its 200-day moving average is $19.22.

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

Institutional Trading of Skeena Resources

Several hedge funds have recently bought and sold shares of SKE. Pinnacle Wealth Management Group Inc. grew its holdings in Skeena Resources by 130.9% during the fourth quarter. Pinnacle Wealth Management Group Inc. now owns 45,257 shares of the company’s stock worth $1,074,000 after buying an additional 25,657 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Skeena Resources by 29.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 977,000 shares of the company’s stock worth $23,206,000 after purchasing an additional 220,000 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Skeena Resources by 48.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,467,864 shares of the company’s stock valued at $27,053,000 after buying an additional 482,369 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Skeena Resources during the 3rd quarter worth approximately $99,000. Finally, National Bank of Canada FI boosted its stake in shares of Skeena Resources by 126.5% in the 3rd quarter. National Bank of Canada FI now owns 149,009 shares of the company’s stock worth $2,742,000 after buying an additional 83,231 shares during the last quarter. Institutional investors and hedge funds 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.