Skeena Resources (NYSE:SKE) Share Price Breaks Above 200-Day Moving Average - What's Next?

Key Points

• Skeena Resources rose above its 200-day moving average of $30.56, reaching $30.93 before last trading at $30.836.
• Analyst views are mixed: three rate the stock Buy and two Sell, giving it an overall Hold consensus.
• The company reported a quarterly loss of $0.21 per share, missing analyst expectations of a $0.11 loss by $0.10.

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $30.56 and traded as high as $30.93. Skeena Resources shares last traded at $30.8360, with a volume of 691,033 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SKE shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of Skeena Resources in a research report on Thursday, October 15th. Royal Bank Of Canada raised Skeena Resources to a "moderate buy" rating in a research report on Tuesday, September 15th. Wall Street Zen raised shares of Skeena Resources from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. Finally, Zacks Research cut shares of Skeena Resources from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 22nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold".

Skeena Resources Price Performance

The firm has a 50 day moving average of $30.73 and a 200-day moving average of $30.56. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 5.66. The company has a market cap of $3.87 billion, a P/E ratio of -20.56 and a beta of 1.19.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its earnings results 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, equities research analysts predict that Skeena Resources Limited will post -1.21 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp grew its holdings in Skeena Resources by 99.7% during the second quarter. Van ECK Associates Corp now owns 9,017,001 shares of the company's stock worth $240,403,000 after buying an additional 4,501,723 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Skeena Resources during the 2nd quarter valued at $19,768,000. Bank of America Corp DE acquired a new stake in Skeena Resources during the second quarter valued at $9,913,000. Bornite Capital Management LP raised its position in 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 purchasing an additional 307,600 shares during the period. Finally, Alberta Investment Management Corp purchased a new stake in Skeena Resources in the 2nd quarter valued at $7,523,000. 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.

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.