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

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $17.01 and last traded at $17.03, with a volume of 78360 shares trading hands. The stock had previously closed at $16.27.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. CIBC restated an "outperform" rating on shares of Skeena Resources in a research note on Thursday, May 22nd. Wall Street Zen downgraded Skeena Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating on shares of Skeena Resources in a report on Friday, April 4th.

Skeena Resources Price Performance

The stock's fifty day moving average is $14.28 and its 200-day moving average is $11.79. The stock has a market capitalization of $1.93 billion, a P/E ratio of -14.58 and a beta of 1.26.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). On average, research analysts expect that Skeena Resources Limited will post -0.98 EPS for the current year.

Institutional Trading of Skeena Resources

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Skeena Resources by 6.1% in 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 last quarter. Bank of America Corp DE boosted its holdings in Skeena Resources by 80.3% in the fourth quarter. Bank of America Corp DE now owns 307,838 shares of the company's stock worth $2,684,000 after purchasing an additional 137,134 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Skeena Resources during the fourth quarter valued at about $1,342,000. JPMorgan Chase & Co. acquired a new stake in Skeena Resources during the 4th quarter worth about $4,549,000. Finally, Two Sigma Advisers LP lifted its stake in shares of Skeena Resources by 51.4% in the fourth quarter. Two Sigma Advisers LP now owns 153,725 shares of the company's stock worth $1,340,000 after buying an additional 52,200 shares during the last quarter. 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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