Skeena Resources (NYSE:SKE) Reaches New 12-Month High - Still a Buy?

Key Points

• Skeena Resources (NYSE:SKE) reached a new 52-week high of $17.84, with a trading volume of 7,014 shares, marking a significant increase from its previous close of $17.30.
• Despite the stock's high performance, Wall Street analysts have mixed views, with one firm downgrading its rating to "sell," while others maintain a "buy" rating, leading to an average rating of "buy" for the stock.
• The company reported a quarterly earnings loss of ($0.03) per share, slightly missing the consensus estimate, with a projected total loss of -0.98 EPS for the current year.

Skeena Resources Limited (NYSE:SKE - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $17.84 and last traded at $17.78, with a volume of 7014 shares changing hands. The stock had previously closed at $17.30.

Analyst Ratings Changes

SKE has been the subject of a number of recent research reports. CIBC restated an "outperform" rating on shares of Skeena Resources in a report on Thursday, May 22nd. TD Securities initiated coverage on Skeena Resources in a report on Tuesday, August 12th. They issued a "buy" rating for the company. Finally, Wall Street Zen downgraded Skeena Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat, Skeena Resources presently has an average rating of "Buy".

Skeena Resources Stock Performance

The stock has a fifty day simple moving average of $15.94 and a two-hundred day simple moving average of $13.38. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.09 and a beta of 1.26.

Skeena Resources (NYSE:SKE - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business had revenue of $1.90 million during the quarter, compared to analysts' expectations of $1.90 million. Research analysts forecast that Skeena Resources Limited will post -0.98 earnings per share for the current year.

Hedge Funds Weigh In On Skeena Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its position in shares of Skeena Resources by 4.3% during the 4th quarter. Mackenzie Financial Corp now owns 42,003 shares of the company's stock worth $365,000 after purchasing an additional 1,742 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Skeena Resources by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 45,364 shares of the company's stock worth $719,000 after purchasing an additional 1,881 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its position in shares of Skeena Resources by 1.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 275,745 shares of the company's stock worth $2,761,000 after purchasing an additional 3,325 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of Skeena Resources by 40.5% during the 2nd quarter. Quantbot Technologies LP now owns 13,077 shares of the company's stock worth $208,000 after purchasing an additional 3,767 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Skeena Resources by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,480 shares of the company's stock worth $597,000 after purchasing an additional 3,878 shares in the last quarter. 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.