Skeena Resources (NYSE:SKE) Upgraded to "Moderate Buy" at Royal Bank Of Canada

Key Points

• Royal Bank of Canada upgraded Skeena Resources to “Moderate Buy,” contributing to an overall consensus rating of Moderate Buy from analysts.
• Skeena shares opened at $29.78, compared with a 52-week range of $15.43 to $38.77, giving the company a market capitalization of approximately $3.74 billion.
• The company reported a quarterly loss of $0.21 per share, missing the consensus estimate of a $0.11 loss; institutional investors own 45.15% of Skeena’s stock.

Skeena Resources (NYSE:SKE - Get Free Report) was upgraded by Royal Bank Of Canada to a "moderate buy" rating in a report released on Tuesday, Zacks reports.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen upgraded shares of Skeena Resources from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Skeena Resources in a research report on Friday, July 17th. Finally, Zacks Research raised shares of Skeena Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Skeena Resources has an average rating of "Moderate Buy".

Skeena Resources Stock Performance

Skeena Resources stock opened at $29.78 on Tuesday. Skeena Resources has a fifty-two week low of $15.43 and a fifty-two week high of $38.77. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -19.85 and a beta of 1.16. The stock has a fifty day moving average of $30.44 and a two-hundred day moving average of $30.21. 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 - Get Free Report) last posted 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 anticipate that Skeena Resources will post -1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp raised its position 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 purchasing an additional 4,501,723 shares during the period. Bornite Capital Management LP grew its stake in shares of Skeena Resources by 23.4% in the second quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company's stock valued at $43,152,000 after buying an additional 307,600 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Skeena Resources by 1.7% in the fourth quarter. TD Asset Management Inc now owns 1,510,392 shares of the company's stock valued at $35,921,000 after buying an additional 25,483 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Skeena Resources by 4.5% during the 1st 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. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Skeena Resources during the 2nd quarter valued at about $19,768,000. Hedge funds and other institutional investors own 45.15% of the company's stock.

About Skeena Resources

Skeena Resources Limited is a Canadian mineral exploration and development company focused on advancing precious-metals projects in British Columbia's Golden Triangle. The company is not currently a producing mining company and is primarily engaged in exploration, project evaluation, permitting, engineering and mine-development activities.

Skeena's principal asset is the Eskay Creek gold-silver project, a past-producing mine that operated in northwestern British Columbia during the 1990s and 2000s.

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