Skeena Resources Limited (NYSE:SKE) Given Average Rating of “Moderate Buy” by Brokerages

Skeena Resources Limited (NYSE:SKE) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company.

Several brokerages have issued reports on SKE. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research report on Wednesday, October 8th. Raymond James Financial restated a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. TD Securities began coverage on Skeena Resources in a research report on Tuesday, August 12th. They set a “buy” rating for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research report on Wednesday, October 8th. Finally, Scotiabank restated an “outperform” rating on shares of Skeena Resources in a research report on Thursday, October 23rd.

Skeena Resources Trading Up 1.6%

SKE opened at $16.47 on Tuesday. The firm has a market cap of $1.99 billion, a P/E ratio of -15.11 and a beta of 1.27. Skeena Resources has a 12 month low of $7.32 and a 12 month high of $20.77. The stock has a 50-day moving average of $17.60 and a 200 day moving average of $15.31.

Skeena Resources (NYSE:SKE) last announced its earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.90 million. On average, research analysts forecast that Skeena Resources will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skeena Resources

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Skeena Resources by 4.3% during the second quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock worth $719,000 after acquiring an additional 1,881 shares during the period. Federation des caisses Desjardins du Quebec increased its position in shares of 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 worth $2,761,000 after acquiring an additional 3,325 shares during the period. Quantbot Technologies LP increased its position in shares of Skeena Resources by 40.5% during 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 during the period. Legal & General Group Plc increased its position in shares of Skeena Resources by 5.2% during the second quarter. Legal & General Group Plc now owns 81,489 shares of the company’s stock worth $1,294,000 after acquiring an additional 4,037 shares during the period. Finally, PDT Partners LLC increased its position in shares of Skeena Resources by 28.8% during the first quarter. PDT Partners LLC now owns 22,493 shares of the company’s stock worth $227,000 after acquiring an additional 5,023 shares during the period. 45.15% of the stock is owned by hedge funds and other 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.