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

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

A number of equities analysts have issued reports on SKE shares. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research note on Monday, January 26th. Wall Street Zen upgraded Skeena Resources from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday, January 21st.

Skeena Resources Stock Up 1.3%

NYSE:SKE opened at $33.74 on Monday. Skeena Resources has a 52 week low of $8.53 and a 52 week high of $38.77. The stock has a market capitalization of $4.09 billion, a PE ratio of -46.22 and a beta of 1.17. The stock’s 50-day moving average price is $30.58 and its 200-day moving average price is $23.00.

Institutional Trading of Skeena Resources

Several institutional investors have recently modified their holdings of SKE. JPMorgan Chase & Co. lifted its stake in Skeena Resources by 28.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 985,495 shares of the company’s stock valued at $15,689,000 after buying an additional 220,334 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in Skeena Resources during the 3rd quarter worth approximately $1,597,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Skeena Resources by 24.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 757,000 shares of the company’s stock valued at $13,938,000 after acquiring an additional 150,000 shares during the last quarter. Amundi raised its holdings in shares of Skeena Resources by 43.4% during the second quarter. Amundi now owns 2,258,524 shares of the company’s stock valued at $35,640,000 after acquiring an additional 683,524 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Skeena Resources by 941.8% in the third quarter. CIBC Asset Management Inc now owns 106,114 shares of the company’s stock valued at $1,952,000 after acquiring an additional 95,928 shares in the last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.

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.