Skeena Resources (NYSE:SKE) Hits New 1-Year High - What's Next?

Key Points

• Shares of Skeena Resources reached a new 52-week high of $18.38 during trading, closing at $18.35.
• Wall Street analysts provide a consensus rating of "Buy", with one analyst giving a Strong Buy rating while two others rated it as Buy.
• Skeena Resources reported a quarterly loss of ($0.03) EPS, which missed the consensus estimate, and it had $1.90 million in revenue for the quarter.

Skeena Resources Limited (NYSE:SKE - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $18.38 and last traded at $18.35, with a volume of 148101 shares traded. The stock had previously closed at $17.54.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SKE. TD Securities began coverage on Skeena Resources in a research note on Tuesday, August 12th. They set a "buy" rating on the stock. Wall Street Zen cut Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a research note on Thursday, May 22nd. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy".

Skeena Resources Stock Up 5.0%

The stock has a market cap of $2.07 billion, a P/E ratio of -16.52 and a beta of 1.26. The business has a 50 day moving average price of $16.17 and a 200 day moving average price of $13.67.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. On average, research analysts expect that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of Skeena Resources

A number of large investors have recently modified their holdings of the company. Helikon Investments Ltd boosted its holdings 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 purchasing an additional 2,112,796 shares during the period. Amundi boosted its holdings 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 purchasing an additional 683,524 shares during the period. Jupiter Asset Management Ltd. boosted its holdings 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 purchasing an additional 357,146 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 purchasing an additional 15,450 shares during the period. Finally, TD Asset Management Inc lifted its holdings in Skeena Resources by 28.9% during the first quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock worth $12,959,000 after buying an additional 288,312 shares during the period. Hedge funds and other institutional investors own 45.15% of the company's stock.

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.