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

Skeena Resources Limited (NYSE:SKE - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $16.48 and last traded at $16.21, with a volume of 1702 shares changing hands. The stock had previously closed at $15.92.

Analyst Upgrades and Downgrades

A number of analysts have commented on SKE shares. CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. Raymond James Financial restated a "strong-buy" rating on shares of Skeena Resources in a research note on Friday, April 4th. Finally, Wall Street Zen lowered Skeena Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Skeena Resources Price Performance

The stock has a market cap of $1.80 billion, a PE ratio of -13.63 and a beta of 1.26. The company's fifty day moving average is $13.49 and its 200-day moving average is $11.27.

Skeena Resources (NYSE:SKE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Analysts expect that Skeena Resources Limited will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Helikon Investments Ltd grew its stake in shares of Skeena Resources by 33.4% during the 1st quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock worth $120,246,000 after purchasing an additional 2,986,891 shares during the period. Jupiter Asset Management Ltd. boosted its holdings in Skeena Resources by 28.4% during the first quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock worth $16,293,000 after buying an additional 357,146 shares in the last quarter. Amundi grew its position in Skeena Resources by 29.2% during the first quarter. Amundi now owns 1,575,000 shares of the company's stock valued at $15,340,000 after buying an additional 355,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Skeena Resources by 31.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock valued at $15,370,000 after buying an additional 367,300 shares during the period. Finally, TD Asset Management Inc increased its holdings in Skeena Resources by 28.9% in the first quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock valued at $12,959,000 after buying an additional 288,312 shares in the last quarter. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

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.