Skeena Resources (NYSE:SKE) Trading Up 7.7% – Should You Buy?
by Kim Johansen · The Markets DailySkeena Resources Limited (NYSE:SKE – Get Free Report) was up 7.7% on Friday . The company traded as high as $28.08 and last traded at $28.0690. Approximately 378,895 shares were traded during mid-day trading, a decline of 56% from the average daily volume of 853,872 shares. The stock had previously closed at $26.06.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on SKE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a report on Monday, April 20th. Wall Street Zen cut Skeena Resources from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.
Skeena Resources Trading Up 8.8%
The company has a 50-day moving average of $30.56 and a 200-day moving average of $29.03. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of -18.74 and a beta of 1.11.
Institutional Investors Weigh In On Skeena Resources
Several large investors have recently added to or reduced their stakes in SKE. Royal Bank of Canada increased its position in Skeena Resources by 849.9% in the first quarter. Royal Bank of Canada now owns 401,729 shares of the company’s stock worth $4,053,000 after buying an additional 359,438 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Skeena Resources in the first quarter worth $89,000. Goldman Sachs Group Inc. increased its position in Skeena Resources by 174.0% in the first quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company’s stock worth $3,172,000 after buying an additional 199,654 shares during the period. Geode Capital Management LLC increased its position in Skeena Resources by 4.3% in the second quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock worth $719,000 after buying an additional 1,881 shares during the period. Finally, Legal & General Group Plc increased its holdings in shares of Skeena Resources by 5.2% during the second quarter. Legal & General Group Plc now owns 81,489 shares of the company’s stock valued at $1,294,000 after purchasing an additional 4,037 shares during the period. 45.15% of the stock is owned by institutional investors and hedge funds.
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.