Skeena Resources (NYSE:SKE) Reaches New 1-Year High – What’s Next?

Shares of Skeena Resources Limited (NYSE:SKE) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $37.24 and last traded at $36.3940, with a volume of 663002 shares changing hands. The stock had previously closed at $36.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. Wall Street Zen upgraded shares of Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. Finally, Scotiabank restated an “outperform” rating on shares of Skeena Resources in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Skeena Resources Price Performance

The firm has a 50 day moving average of $29.56 and a two-hundred day moving average of $22.21. The stock has a market cap of $4.63 billion, a PE ratio of -52.24 and a beta of 1.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SKE. Astoria Portfolio Advisors LLC. acquired a new stake in Skeena Resources during the 4th quarter worth $215,000. Virtu Financial LLC purchased a new position in shares of Skeena Resources during the fourth quarter worth about $328,000. Alberta Investment Management Corp purchased a new position in shares of Skeena Resources during the fourth quarter worth about $5,938,000. Mackenzie Financial Corp increased its position in shares of Skeena Resources by 19.1% during the fourth quarter. Mackenzie Financial Corp now owns 253,452 shares of the company’s stock worth $6,056,000 after purchasing an additional 40,671 shares in the last quarter. Finally, Grand Central Investment Group purchased a new stake in shares of Skeena Resources in the 4th quarter valued at about $299,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

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.