Skeena Resources Limited (NYSE:SKE) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts give Skeena Resources a “Moderate Buy” consensus: Of seven covering firms, four rated the stock a buy, one a strong buy, one a hold and one a sell.
• Shares opened at $31.35, with a market capitalization of about $3.93 billion and a 12-month trading range of $15.43 to $38.77. The company reported quarterly EPS of $(0.21), missing the $(0.11) consensus estimate.
• Institutional ownership stands at 45.15%. VanEck nearly doubled its position in the second quarter, while other major investors including Bornite Capital, TD Asset Management and RBC also increased holdings.

Shares of Skeena Resources Limited (NYSE:SKE - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company.

Several research firms recently issued reports on SKE. Zacks Research raised shares of Skeena Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Royal Bank Of Canada raised Skeena Resources to a "moderate buy" rating in a research note on Tuesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of Skeena Resources in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Skeena Resources from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th.

Skeena Resources Stock Performance

SKE opened at $31.35 on Friday. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 5.66. The stock's 50 day moving average price is $30.52 and its two-hundred day moving average price is $30.16. The firm has a market capitalization of $3.93 billion, a P/E ratio of -20.90 and a beta of 1.16. Skeena Resources has a 12-month low of $15.43 and a 12-month high of $38.77.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.10). On average, equities analysts forecast that Skeena Resources will post -1.29 earnings per share for the current year.

Institutional Trading of Skeena Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp increased its position in shares of Skeena Resources by 99.7% in the 2nd quarter. Van ECK Associates Corp now owns 9,017,001 shares of the company's stock valued at $240,403,000 after buying an additional 4,501,723 shares in the last quarter. Bornite Capital Management LP lifted its holdings in shares of Skeena Resources by 23.4% during the 2nd quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company's stock valued at $43,152,000 after purchasing an additional 307,600 shares in the last quarter. TD Asset Management Inc grew its position in shares of Skeena Resources by 1.7% in the 4th quarter. TD Asset Management Inc now owns 1,510,392 shares of the company's stock valued at $35,921,000 after purchasing an additional 25,483 shares during the period. Royal Bank of Canada boosted its holdings 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. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Skeena Resources during the second quarter worth $19,768,000. 45.15% of the stock is currently owned by institutional investors and hedge funds.

Skeena Resources Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.