Skeena Resources (NYSE:SKE) Shares Gap Up – Time to Buy?

Skeena Resources Limited (NYSE:SKE) shares gapped up before the market opened on Monday . The stock had previously closed at $24.44, but opened at $25.80. Skeena Resources shares last traded at $24.9010, with a volume of 146,398 shares.

Wall Street Analysts Forecast Growth

SKE has been the subject of a number of recent analyst reports. Desjardins raised Skeena Resources to a “moderate buy” rating in a report on Wednesday, October 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research report on Wednesday, October 8th. Raymond James Financial reissued a “strong-buy” rating on shares of Skeena Resources in a report on Friday, October 10th. Wall Street Zen raised Skeena Resources from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Skeena Resources Stock Up 2.2%

The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -34.16 and a beta of 1.22. The stock has a fifty day moving average price of $18.77 and a two-hundred day moving average price of $16.94.

Skeena Resources (NYSE:SKE) last released its earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). As a group, research analysts forecast that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of Skeena Resources

A number of institutional investors and hedge funds have recently made changes to their positions in SKE. Geode Capital Management LLC grew its position in Skeena Resources by 4.3% during the second quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock valued at $719,000 after acquiring an additional 1,881 shares during the period. PNC Financial Services Group Inc. increased its position in Skeena Resources by 431.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock worth $44,000 after purchasing an additional 1,940 shares in the last quarter. Swiss National Bank raised its holdings in Skeena Resources by 2.2% in the third quarter. Swiss National Bank now owns 145,900 shares of the company’s stock valued at $2,688,000 after buying an additional 3,200 shares during the period. Federation des caisses Desjardins du Quebec lifted its position in Skeena Resources by 1.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 275,745 shares of the company’s stock valued at $2,761,000 after buying an additional 3,325 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Skeena Resources by 40.5% in the second quarter. Quantbot Technologies LP now owns 13,077 shares of the company’s stock worth $208,000 after acquiring an additional 3,767 shares in the last quarter. 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.