Skeena Resources (NYSE:SKE) Raised to “Moderate Buy” at Desjardins

Skeena Resources (NYSE:SKE) was upgraded by equities research analysts at Desjardins to a “moderate buy” rating in a research report issued on Thursday, Zacks.com reports.

Skeena Resources Stock Performance

NYSE SKE traded down $0.14 on Thursday, hitting $9.60. 184,851 shares of the stock traded hands, compared to its average volume of 265,327. The business’s fifty day moving average is $8.73 and its two-hundred day moving average is $6.63. Skeena Resources has a 12 month low of $3.05 and a 12 month high of $10.33. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of -8.57 and a beta of 1.33.

Skeena Resources (NYSE:SKE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.22). Analysts expect that Skeena Resources will post -0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Skeena Resources

Several large investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its position in Skeena Resources by 16.1% during the third quarter. Van ECK Associates Corp now owns 5,012,498 shares of the company’s stock valued at $42,406,000 after purchasing an additional 693,745 shares in the last quarter. Helikon Investments Ltd purchased a new stake in Skeena Resources during the third quarter valued at about $18,159,000. Goehring & Rozencwajg Associates LLC raised its position in Skeena Resources by 22.8% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,470,600 shares of the company’s stock valued at $7,888,000 after purchasing an additional 273,300 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in Skeena Resources during the second quarter valued at about $2,682,000. Finally, Bank of Montreal Can raised its position in Skeena Resources by 16.6% during the second quarter. Bank of Montreal Can now owns 313,185 shares of the company’s stock valued at $1,681,000 after purchasing an additional 44,519 shares in the last quarter. Institutional investors own 45.15% of the company’s stock.

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.