Skeena Resources Limited (NYSE:SKE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

SKE has been the subject of several analyst reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Skeena Resources in a research note on Wednesday, February 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a research note on Monday, April 20th. Scotiabank restated an “outperform” rating on shares of Skeena Resources in a research note on Monday, January 26th. Finally, Wall Street Zen cut shares of Skeena Resources from a “hold” rating to a “sell” rating in a report on Saturday, March 28th.

Skeena Resources Stock Performance

NYSE:SKE opened at $28.28 on Friday. Skeena Resources has a 52-week low of $11.88 and a 52-week high of $38.77. The company has a market cap of $3.44 billion, a P/E ratio of -18.73 and a beta of 1.13. The stock’s 50-day simple moving average is $30.60 and its 200 day simple moving average is $27.87.

Institutional Trading of Skeena Resources

A number of hedge funds have recently made changes to their positions in the business. Helikon Investments Ltd raised its stake in Skeena Resources by 20.3% in the 3rd quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock valued at $310,948,000 after acquiring an additional 2,841,708 shares during the period. Vanguard Group Inc. increased its holdings in shares of Skeena Resources by 108.3% in the fourth quarter. Vanguard Group Inc. now owns 2,625,277 shares of the company’s stock valued at $62,353,000 after purchasing an additional 1,364,835 shares during the last quarter. Millennium Management LLC raised its position in shares of Skeena Resources by 44.6% in the fourth quarter. Millennium Management LLC now owns 2,202,510 shares of the company’s stock valued at $52,309,000 after purchasing an additional 679,709 shares during the period. Van ECK Associates Corp lifted its stake in shares of Skeena Resources by 16.5% during the 3rd quarter. Van ECK Associates Corp now owns 4,741,607 shares of the company’s stock worth $87,404,000 after buying an additional 670,200 shares during the last quarter. Finally, Waratah Capital Advisors Ltd. boosted its holdings in shares of Skeena Resources by 114.9% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 1,227,900 shares of the company’s stock worth $22,630,000 after buying an additional 656,471 shares during the period. 45.15% of the stock is owned by institutional investors and hedge funds.

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.