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

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s share price shot up 4.3% during mid-day trading on Friday . The company traded as high as $16.19 and last traded at $16.44. 29,303 shares traded hands 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

SKE has been the topic of a number of recent research reports. Wall Street Zen cut shares of Skeena Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Skeena Resources in a report on Friday, April 4th. Finally, CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a report on Thursday, May 22nd.

Skeena Resources Trading Up 3.3%

The stock has a 50 day simple moving average of $13.90 and a 200-day simple moving average of $11.50. The firm has a market capitalization of $1.87 billion, a P/E ratio of -14.16 and a beta of 1.26.

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

Institutional Investors Weigh In On Skeena Resources

A number of large investors have recently made changes to their positions in the company. 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 valued at $120,246,000 after acquiring an additional 2,986,891 shares during the period. Jupiter Asset Management Ltd. grew its stake in shares of Skeena Resources by 28.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock valued at $16,293,000 after acquiring an additional 357,146 shares during the period. Amundi boosted its stake in Skeena Resources by 29.2% in the 1st quarter. Amundi now owns 1,575,000 shares of the company's stock worth $15,340,000 after purchasing an additional 355,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Skeena Resources by 31.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock worth $15,370,000 after purchasing an additional 367,300 shares during the period. Finally, TD Asset Management Inc boosted its stake in Skeena Resources by 28.9% in the 1st quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock worth $12,959,000 after purchasing an additional 288,312 shares during the period. 45.15% of the stock is currently owned by institutional investors.

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.