Skeena Resources (NYSE:SKE) Stock Price Up 4.3% - Should You Buy?

Shares of Skeena Resources Limited (NYSE:SKE - Get Free Report) shot up 4.3% during trading on Friday . The stock traded as high as $16.19 and last traded at $16.44. 29,303 shares were traded during mid-day trading, a decline of 93% from the average session volume of 396,701 shares. The stock had previously closed at $15.76.

Analyst Upgrades and Downgrades

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

Skeena Resources Trading Up 0.6%

The firm has a market cap of $1.88 billion, a P/E ratio of -14.28 and a beta of 1.26. The company's fifty day moving average price is $13.90 and its two-hundred day moving average price is $11.53.

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

Institutional Investors Weigh In On Skeena Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in shares of Skeena Resources by 2,067.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company's stock worth $51,000 after purchasing an additional 5,541 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new stake in Skeena Resources in the first quarter valued at approximately $77,000. Cubist Systematic Strategies LLC bought a new position in Skeena Resources during the first quarter worth about $89,000. Banque Cantonale Vaudoise acquired a new position in shares of Skeena Resources in the first quarter valued at approximately $91,000. Finally, Mesirow Financial Investment Management Inc. bought a new position in Skeena Resources during the 1st quarter worth about $101,000. 45.15% of the stock is owned by institutional investors and hedge funds.

Skeena Resources Company Profile

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.