Skeena Resources (NYSE:SKE) Reaches New 1-Year High - Time to Buy?

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.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SKE. TD Securities began coverage on shares of Skeena Resources in a report on Tuesday, August 12th. They set a "buy" rating for the company. CIBC restated an "outperform" rating on shares of Skeena Resources in a report on Thursday, May 22nd. Finally, Wall Street Zen cut shares of 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. Based on data from MarketBeat, the company has a consensus rating of "Buy".

Skeena Resources Stock Up 6.7%

The stock's 50-day moving average price is $15.94 and its 200 day moving average price is $13.43. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -17.17 and a beta of 1.26.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $1.90 million. On average, research analysts predict that Skeena Resources Limited will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Northwest & Ethical Investments L.P. acquired a new position in Skeena Resources in the first quarter worth about $77,000. Cubist Systematic Strategies LLC acquired a new position in Skeena Resources in the first quarter worth about $89,000. Banque Cantonale Vaudoise acquired a new position in Skeena Resources in the first quarter worth about $91,000. Mesirow Financial Investment Management Inc. acquired a new position in Skeena Resources in the first quarter worth about $101,000. Finally, Cutler Capital Management LLC acquired a new position in Skeena Resources in the second quarter worth about $167,000. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.