Skeena Resources (NYSE:SKE) Stock Rating Upgraded by Royal Bank Of Canada

Skeena Resources (NYSE:SKE) was upgraded by investment analysts at Royal Bank Of Canada to a “moderate buy” rating in a research report issued on Tuesday, Zacks reports.

Several other brokerages have also weighed in on SKE. Zacks Research raised Skeena Resources from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a report on Friday, July 17th. Finally, Wall Street Zen raised shares of Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Skeena Resources Trading Down 2.7%

Shares of Skeena Resources stock opened at $29.78 on Tuesday. The firm has a market cap of $3.74 billion, a PE ratio of -19.85 and a beta of 1.16. Skeena Resources has a 1 year low of $15.43 and a 1 year high of $38.77. 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 stock has a fifty day moving average price of $30.44 and a 200-day moving average price of $30.21.

Skeena Resources (NYSE:SKE) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). Equities research analysts anticipate that Skeena Resources will post -1.29 EPS for the current year.

Institutional Investors Weigh In On Skeena Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its position in shares of Skeena Resources by 99.7% in the second quarter. Van ECK Associates Corp now owns 9,017,001 shares of the company’s stock worth $240,403,000 after buying an additional 4,501,723 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Skeena Resources during the second quarter worth about $19,768,000. Bornite Capital Management LP bought a new position in Skeena Resources in the 4th quarter worth about $12,423,000. BW Gestao de Investimentos Ltda. bought a new position in Skeena Resources in the 4th quarter worth about $10,397,000. Finally, Bank of America Corp DE bought a new position in Skeena Resources in the 2nd quarter worth about $9,913,000. 45.15% of the stock is currently owned by institutional investors.

About Skeena Resources

Skeena Resources Limited is a Canadian mineral exploration and development company focused on advancing precious-metals projects in British Columbia’s Golden Triangle. The company is not currently a producing mining company and is primarily engaged in exploration, project evaluation, permitting, engineering and mine-development activities.

Skeena’s principal asset is the Eskay Creek gold-silver project, a past-producing mine that operated in northwestern British Columbia during the 1990s and 2000s.