Skeena Resources (NYSE:SKE) Hits New 12-Month High – Here’s What Happened

Skeena Resources Limited (NYSE:SKE) reached a new 52-week high on Monday . The company traded as high as $32.96 and last traded at $32.7740, with a volume of 222531 shares trading hands. The stock had previously closed at $31.39.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SKE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday. Raymond James Financial reiterated a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a report on Monday. Wall Street Zen upgraded shares of Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, Desjardins upgraded shares of Skeena Resources to a “moderate buy” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Skeena Resources Price Performance

The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -44.50 and a beta of 1.22. The stock has a 50-day moving average of $23.64 and a 200 day moving average of $19.22.

Skeena Resources (NYSE:SKE) last issued its earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Sell-side analysts anticipate that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skeena Resources

Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in shares of Skeena Resources by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock worth $719,000 after buying an additional 1,881 shares during the period. PNC Financial Services Group Inc. boosted its stake 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 acquiring an additional 1,940 shares during the last quarter. Swiss National Bank grew its holdings in Skeena Resources by 2.2% during the third quarter. Swiss National Bank now owns 145,900 shares of the company’s stock valued at $2,688,000 after purchasing an additional 3,200 shares during the period. Quantbot Technologies LP grew its holdings in Skeena Resources by 40.5% during the second quarter. Quantbot Technologies LP now owns 13,077 shares of the company’s stock valued at $208,000 after purchasing an additional 3,767 shares during the period. Finally, Legal & General Group Plc increased its stake in Skeena Resources by 5.2% in the second quarter. Legal & General Group Plc now owns 81,489 shares of the company’s stock valued at $1,294,000 after purchasing an additional 4,037 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.