Skeena Resources (NYSE:SKE) Upgraded at Royal Bank Of Canada

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

Several other research analysts have also recently commented on the company. Wall Street Zen upgraded Skeena Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Friday, July 17th. Finally, Zacks Research upgraded Skeena Resources from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Performance

Skeena Resources stock opened at $29.78 on Tuesday. Skeena Resources has a 12-month low of $15.43 and a 12-month high of $38.77. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -19.85 and a beta of 1.16. 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 firm’s fifty day moving average price is $30.44 and its 200 day moving average price is $30.21.

Skeena Resources (NYSE:SKE) last posted 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). On average, research analysts forecast that Skeena Resources will post -1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SKE. Integrated Wealth Concepts LLC bought a new stake in shares of Skeena Resources during the 2nd quarter valued at about $37,000. Rockefeller Capital Management L.P. boosted its stake in Skeena Resources by 41.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company’s stock valued at $37,000 after acquiring an additional 455 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Skeena Resources during the fourth quarter valued at approximately $161,000. Leonteq Securities AG bought a new position in shares of Skeena Resources during the first quarter valued at approximately $219,000. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in shares of Skeena Resources during the 4th quarter worth approximately $206,000. 45.15% of the stock is owned by institutional investors and hedge funds.

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 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.