Skeena Resources Limited (NYSE:SKE) Stock Now Rated “Hold” by Wall Street Analysts

Shares of Skeena Resources Limited (NYSE:SKE) have received an average rating of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and three have given a buy recommendation to the company.

A number of research firms recently commented on SKE. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research report on Thursday, October 15th. Zacks Research lowered shares of Skeena Resources from a “hold” rating to a “strong sell” rating in a report on Thursday, October 22nd. Wall Street Zen raised Skeena Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada upgraded Skeena Resources to a “moderate buy” rating in a report on Tuesday, September 15th.

Skeena Resources Price Performance

NYSE SKE opened at $30.57 on Friday. The company has a market cap of $3.84 billion, a PE ratio of -20.38 and a beta of 1.19. The firm’s 50 day moving average price is $30.70 and its 200-day moving average price is $30.58. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15. Skeena Resources has a 52-week low of $16.75 and a 52-week high of $38.77.

Skeena Resources (NYSE:SKE) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). Sell-side analysts forecast that Skeena Resources will post -1.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Edmond DE Rothschild Holding S.A. boosted its holdings in Skeena Resources by 39.9% in the third quarter. Edmond DE Rothschild Holding S.A. now owns 259,720 shares of the company’s stock worth $7,750,000 after acquiring an additional 74,026 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Skeena Resources by 3.3% during the third quarter. Public Sector Pension Investment Board now owns 47,116 shares of the company’s stock valued at $1,500,000 after acquiring an additional 1,498 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Skeena Resources during the third quarter valued at about $31,000. Cibc World Market Inc. raised its position in shares of Skeena Resources by 11.1% in the 3rd quarter. Cibc World Market Inc. now owns 47,845 shares of the company’s stock valued at $1,423,000 after purchasing an additional 4,790 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of Skeena Resources in the 3rd quarter valued at approximately $85,000. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

About Skeena Resources

Skeena Resources Ltd. is a Canadian mineral exploration and development company focused on gold and silver projects in British Columbia. Its main asset is the Eskay Creek project in the province’s Golden Triangle, a region known for mineral deposits. Eskay Creek was a producing mine from 1994 to 2008. Skeena acquired the project from Barrick Gold in 2017 and is working to advance its redevelopment. The company has also held interests in other regional properties, including the Snip project. Skeena is headquartered in Vancouver and focuses on evaluating and developing mineral resources rather than operating a portfolio of producing mines.