Skeena Resources (NYSE:SKE) Stock Breaks Above 200-Day Moving Average – Time to Sell?

Skeena Resources Limited (NYSE:SKE)’s stock price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $30.56 and traded as high as $30.93. Skeena Resources shares last traded at $30.8360, with a volume of 691,033 shares changing hands.

Analyst Ratings Changes

SKE has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a research report on Thursday, October 15th. Zacks Research downgraded 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 shares of Skeena Resources to a “moderate buy” rating in a research note on Tuesday, September 15th. Three research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Skeena Resources Stock Performance

The business has a 50-day simple moving average of $30.73 and a 200 day simple moving average of $30.56. The company has a debt-to-equity ratio of 5.66, a current ratio of 3.15 and a quick ratio of 3.15. The firm has a market cap of $3.87 billion, a PE ratio of -20.56 and a beta of 1.19.

Skeena Resources (NYSE:SKE) last released its earnings results on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). Equities research analysts forecast that Skeena Resources Limited will post -1.21 EPS for the current year.

Institutional Trading of Skeena Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mesirow Financial Investment Management Inc. bought a new stake in shares of Skeena Resources in the third quarter worth about $208,000. StoneX Group Inc. purchased a new stake in shares of Skeena Resources in the third quarter worth about $255,000. Parallel Advisors LLC bought a new position in Skeena Resources during the third quarter valued at approximately $47,000. CenterBook Partners LP bought a new position in Skeena Resources during the third quarter valued at approximately $1,868,000. Finally, Farther Finance Advisors LLC boosted its stake in Skeena Resources by 2,443.3% during the third quarter. Farther Finance Advisors LLC now owns 1,526 shares of the company’s stock valued at $45,000 after buying an additional 1,466 shares during the last quarter. 45.15% of the stock is currently owned by institutional investors.

About Skeena Resources

Skeena Resources Limited (NYSE:SKE) is a Canadian mineral exploration and development company focused on advancing precious-metal projects in British Columbia. Its primary asset is the Eskay Creek gold-silver project in the Golden Triangle region of northwest British Columbia.

Eskay Creek was previously an operating underground mine and produced gold and silver before closing in 2008. Skeena acquired the project in 2017 and is working to redevelop it as a modern open-pit mining operation.