Skeena Resources Limited (NYSE:SKE) Stock Rated “Hold” by Sell-Side Brokerages

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

Several analysts have commented on SKE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Friday, July 17th. Royal Bank Of Canada raised shares of Skeena Resources to a “moderate buy” rating in a report on Tuesday, September 15th. Zacks Research upgraded 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 note on Saturday, August 15th.

Skeena Resources Stock Performance

Shares of SKE opened at $31.96 on Tuesday. The stock has a 50-day moving average of $32.13 and a two-hundred day moving average of $30.21. 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 cap of $4.01 billion, a P/E ratio of -21.30 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 (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.10). As a group, research analysts predict that Skeena Resources will post -1.29 EPS for the current year.

Institutional Investors Weigh In On Skeena Resources

Hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its stake in shares of Skeena Resources by 99.7% during the 2nd quarter. Van ECK Associates Corp now owns 9,017,001 shares of the company’s stock valued at $240,403,000 after buying an additional 4,501,723 shares during the last quarter. Bornite Capital Management LP boosted its stake in shares of Skeena Resources by 23.4% in the second quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company’s stock worth $43,152,000 after buying an additional 307,600 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Skeena Resources by 4.5% in the first quarter. Royal Bank of Canada now owns 1,291,911 shares of the company’s stock worth $38,395,000 after buying an additional 55,463 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Skeena Resources during the second quarter worth about $19,768,000. Finally, Groupe la Francaise grew its holdings in Skeena Resources by 1.1% during the second quarter. Groupe la Francaise now owns 455,000 shares of the company’s stock worth $12,132,000 after acquiring an additional 5,000 shares during the period. 45.15% of the stock is owned by hedge funds and other institutional investors.

Skeena Resources Company Profile

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’s primary asset is the Eskay Creek gold-silver project, a past-producing mine that Skeena is working to redevelop as a modern open-pit operation.

Skeena’s activities include exploration, resource evaluation, technical studies, permitting and project development. Eskay Creek contains gold and silver mineralization, and the company is evaluating the infrastructure and processing requirements needed to support a potential restart of the site.