Skeena Resources (NYSE:SKE) Trading Up 3.5% – Should You Buy?

Shares of Skeena Resources Limited (NYSE:SKE) rose 3.5% during mid-day trading on Monday . The company traded as high as $11.90 and last traded at $11.75. Approximately 26,094 shares changed hands during trading, a decline of 93% from the average daily volume of 388,827 shares. The stock had previously closed at $11.35.

Analyst Upgrades and Downgrades

Separately, Raymond James reissued a “strong-buy” rating on shares of Skeena Resources in a research note on Friday, April 4th.

Skeena Resources Price Performance

The business’s fifty day simple moving average is $11.00 and its 200 day simple moving average is $10.03. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -8.63 and a beta of 1.20.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new stake in Skeena Resources during the 4th quarter worth approximately $31,000. Tower Research Capital LLC TRC grew its holdings in Skeena Resources by 2,067.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company’s stock valued at $51,000 after purchasing an additional 5,541 shares in the last quarter. Northwest & Ethical Investments L.P. bought a new position in shares of Skeena Resources in the 1st quarter worth about $77,000. Aquatic Capital Management LLC bought a new stake in shares of Skeena Resources in the 4th quarter worth $89,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Skeena Resources during the first quarter valued at $89,000. 45.15% of the stock is currently owned by institutional investors and hedge funds.

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.