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

Key Points

• Skeena Resources Limited has received a consensus rating of "Buy" from three analysts, with two analysts issuing a buy rating and one a strong buy rating.
• As of Friday, the stock traded up 0.6%, reaching $17.48, with a market capitalization of $2.01 billion.
• Several institutional investors have increased their stakes in the company, including Helikon Investments Ltd., which boosted its stake by 17.7% in the second quarter.

Skeena Resources Limited (NYSE:SKE - Get Free Report) has earned a consensus recommendation of "Buy" from the three analysts that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company.

A number of research firms have issued reports on SKE. TD Securities began coverage on Skeena Resources in a research report on Tuesday, August 12th. They issued a "buy" rating on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Skeena Resources in a research report on Saturday, September 27th.

Skeena Resources Trading Up 0.6%

SKE traded up $0.11 during mid-day trading on Friday, hitting $17.48. 877,713 shares of the stock were exchanged, compared to its average volume of 463,897. The firm's fifty day moving average is $16.51 and its two-hundred day moving average is $14.19. Skeena Resources has a 1-year low of $7.32 and a 1-year high of $19.33. The company has a market cap of $2.01 billion, a PE ratio of -16.03 and a beta of 1.27.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $1.90 million during the quarter, compared to analysts' expectations of $1.90 million. As a group, research analysts anticipate that Skeena Resources will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Helikon Investments Ltd boosted its stake in shares of Skeena Resources by 17.7% in the second quarter. Helikon Investments Ltd now owns 14,030,111 shares of the company's stock valued at $223,359,000 after buying an additional 2,112,796 shares in the last quarter. Amundi boosted its stake in shares of Skeena Resources by 43.4% in the second quarter. Amundi now owns 2,258,524 shares of the company's stock valued at $35,640,000 after buying an additional 683,524 shares in the last quarter. Jupiter Asset Management Ltd. boosted its stake in shares of Skeena Resources by 28.4% in the first quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock valued at $16,293,000 after buying an additional 357,146 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Skeena Resources by 1.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,539,488 shares of the company's stock valued at $24,503,000 after buying an additional 15,450 shares in the last quarter. Finally, TD Asset Management Inc boosted its stake in shares of Skeena Resources by 28.9% in the first quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock valued at $12,959,000 after buying an additional 288,312 shares in the last quarter. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

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.

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