Skeena Resources (NYSE:SKE) Hits New 1-Year High - Here's Why

Key Points

• Skeena Resources shares reached a new 52-week high of $17.47 during trading, reflecting strong investor interest.
• Several analysts have issued ratings on the stock, with CIBC and TD Securities recommending a buy, while Wall Street Zen downgraded it to a sell, resulting in a consensus rating of Buy.
• The company reported earnings with an EPS of ($0.03), missing analyst expectations, despite generating revenue of $1.90 million, which matched estimates.

Skeena Resources Limited (NYSE:SKE - Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.47 and last traded at $16.85, with a volume of 9357 shares traded. The stock had previously closed at $16.75.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. CIBC restated an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. TD Securities initiated coverage on Skeena Resources in a research report on Tuesday, August 12th. They issued a "buy" rating for the company. Finally, Wall Street Zen cut Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Skeena Resources Trading Up 2.6%

The business has a fifty day moving average of $15.61 and a 200-day moving average of $12.98. The firm has a market cap of $1.97 billion, a PE ratio of -15.77 and a beta of 1.26.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.03) 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 analyst estimates of $1.90 million. On average, equities analysts forecast that Skeena Resources Limited will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in Skeena Resources by 2,067.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company's stock worth $51,000 after purchasing an additional 5,541 shares during the period. Northwest & Ethical Investments L.P. bought a new stake in Skeena Resources during the first quarter valued at about $77,000. Aquatic Capital Management LLC bought a new stake in Skeena Resources during the fourth quarter valued at about $89,000. Cubist Systematic Strategies LLC bought a new stake in Skeena Resources during the first quarter valued at about $89,000. Finally, Banque Cantonale Vaudoise bought a new stake in Skeena Resources during the first quarter valued at about $91,000. Hedge funds and other institutional investors own 45.15% of the company's stock.

Skeena Resources Company Profile

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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