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

Key Points

• Skeena Resources shares reached a new 52-week high of $19.84, reflecting a notable increase from the previous closing price of $18.30.
• Analyst ratings are mixed, with one analyst issuing a Strong Buy, three a Buy, and one a Sell, leading to a consensus rating of Moderate Buy.
• The company reported a loss of ($0.03) EPS for the last quarter, missing the consensus estimate, while expected annual EPS stands at -0.98.

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s share price reached a new 52-week high during trading on Monday . The stock traded as high as $19.83 and last traded at $19.84, with a volume of 184578 shares. The stock had previously closed at $18.30.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Skeena Resources in a report on Wednesday, October 8th. TD Securities assumed coverage on shares of Skeena Resources in a research note on Tuesday, August 12th. They issued a "buy" rating for the company. Raymond James Financial reiterated a "strong-buy" rating on shares of Skeena Resources in a research note on Friday. Finally, Desjardins upgraded shares of Skeena Resources to a "moderate buy" rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Skeena Resources Price Performance

The firm has a market capitalization of $2.33 billion, a P/E ratio of -18.61 and a beta of 1.27. The firm's 50 day simple moving average is $16.93 and its two-hundred day simple moving average is $14.56.

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

Institutional Investors Weigh In On Skeena Resources

A number of institutional investors have recently made changes to their positions in SKE. FNY Investment Advisers LLC lifted its position in Skeena Resources by 237.5% during the first quarter. FNY Investment Advisers LLC now owns 13,500 shares of the company's stock valued at $136,000 after purchasing an additional 9,500 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Skeena Resources by 6.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 478,500 shares of the company's stock valued at $4,826,000 after purchasing an additional 27,500 shares during the period. TD Asset Management Inc raised its position in shares of Skeena Resources by 28.9% during the 1st quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock valued at $12,959,000 after purchasing an additional 288,312 shares during the period. Mackenzie Financial Corp grew its stake in Skeena Resources by 382.4% during the first quarter. Mackenzie Financial Corp now owns 202,642 shares of the company's stock valued at $2,043,000 after acquiring an additional 160,639 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in Skeena Resources during the first quarter valued at $91,000. 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.

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