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

Shares of Skeena Resources Limited (NYSE:SKE) have received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company.

A number of research firms have weighed in on SKE. Zacks Research lowered shares of Skeena Resources from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a research report on Monday, April 20th. Finally, Wall Street Zen downgraded Skeena Resources from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th.

Institutional Investors Weigh In On Skeena Resources

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rockefeller Capital Management L.P. raised its position in shares of Skeena Resources by 41.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company’s stock valued at $37,000 after buying an additional 455 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Skeena Resources in the 4th quarter worth approximately $43,000. PNC Financial Services Group Inc. increased its position in shares of Skeena Resources by 431.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after purchasing an additional 1,940 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Skeena Resources in the fourth quarter valued at $45,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Skeena Resources in the first quarter valued at $89,000. Institutional investors and hedge funds own 45.15% of the company’s stock.

Skeena Resources Price Performance

Shares of NYSE SKE traded down $0.28 during trading hours on Friday, hitting $27.18. 467,363 shares of the stock were exchanged, compared to its average volume of 1,167,212. Skeena Resources has a one year low of $13.81 and a one year high of $38.77. The company’s 50 day moving average is $28.81 and its 200 day moving average is $29.80. The firm has a market capitalization of $3.38 billion, a P/E ratio of -18.00 and a beta of 1.14.

Skeena Resources Company Profile

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.