Skeena Resources Limited (NYSE:SKE) Stock Now Rated “Hold” by Wall Street Brokerages

Skeena Resources Limited (NYSE:SKE) has earned a consensus recommendation of “Hold” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company.

A number of research firms have recently issued reports on SKE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a report on Thursday. Royal Bank Of Canada raised shares of Skeena Resources to a “moderate buy” rating in a research note on Tuesday, September 15th. Zacks Research raised shares of Skeena Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Skeena Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th.

Institutional Trading of Skeena Resources

A number of hedge funds have recently bought and sold shares of SKE. Bornite Capital Management LP increased its position in Skeena Resources by 23.4% during the second quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company’s stock worth $43,152,000 after purchasing an additional 307,600 shares during the last quarter. BlackRock Inc. purchased a new position in Skeena Resources during the second quarter worth about $655,000. Legal & General Group Plc acquired a new position in Skeena Resources in the 2nd quarter valued at about $1,913,000. J. Goldman & Co LP acquired a new position in Skeena Resources in the 2nd quarter valued at about $2,686,000. Finally, Alberta Investment Management Corp acquired a new position in Skeena Resources in the 2nd quarter valued at about $7,523,000. Institutional investors and hedge funds own 45.15% of the company’s stock.

Skeena Resources Stock Down 0.2%

Shares of SKE opened at $31.44 on Tuesday. The stock has a 50 day moving average price of $32.08 and a 200 day moving average price of $30.25. Skeena Resources has a one year low of $15.43 and a one year high of $38.77. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -20.96 and a beta of 1.18.

Skeena Resources (NYSE:SKE) last announced its quarterly earnings data 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 forecast that Skeena Resources will post -1.27 earnings per share for the current fiscal year.

Skeena Resources Company Profile

Skeena Resources Limited (NYSE:SKE) is a Canadian mineral exploration and development company focused on advancing precious-metal projects in British Columbia. Its primary asset is the Eskay Creek gold-silver project in the Golden Triangle region of northwest British Columbia.

Eskay Creek was previously an operating underground mine and produced gold and silver before closing in 2008. Skeena acquired the project in 2017 and is working to redevelop it as a modern open-pit mining operation.