Desjardins Trims Skeena Resources (NYSE:SKE) Target Price to C$17.00

Skeena Resources (NYSE:SKEGet Rating) had its target price trimmed by Desjardins from C$19.00 to C$17.00 in a research note issued to investors on Monday morning, The Fly reports.

A number of other equities analysts have also recently issued reports on the company. Raymond James reduced their target price on Skeena Resources from C$22.00 to C$20.00 in a report on Wednesday, May 18th. CIBC dropped their target price on Skeena Resources from C$19.00 to C$17.50 in a research report on Friday. Scotiabank initiated coverage on Skeena Resources in a research report on Friday, July 8th. They set an outperform rating and a $17.00 price target on the stock. Finally, Royal Bank of Canada reduced their price target on Skeena Resources from C$23.00 to C$15.00 in a research note on Thursday, September 1st.

Skeena Resources Trading Up 11.0 %

SKE opened at $5.77 on Monday. The business has a 50 day moving average of $5.15 and a 200-day moving average of $7.84. The stock has a market capitalization of $402.70 million and a price-to-earnings ratio of -4.47. Skeena Resources has a 1-year low of $4.46 and a 1-year high of $13.39.

Skeena Resources (NYSE:SKEGet Rating) last announced its earnings results on Friday, August 12th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.15). Equities analysts predict that Skeena Resources will post -0.7 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors increased its position in shares of Skeena Resources by 19.9% during the second quarter. Captrust Financial Advisors now owns 23,500 shares of the company’s stock valued at $124,000 after acquiring an additional 3,900 shares during the last quarter. Legal & General Group Plc purchased a new stake in Skeena Resources in the second quarter worth $42,000. Goldman Sachs Group Inc. purchased a new stake in Skeena Resources in the second quarter worth $668,000. Renaissance Technologies LLC increased its position in Skeena Resources by 67.0% in the second quarter. Renaissance Technologies LLC now owns 166,950 shares of the company’s stock worth $882,000 after buying an additional 67,000 shares during the last quarter. Finally, Credit Suisse AG purchased a new stake in Skeena Resources in the second quarter worth $265,000. Institutional investors own 32.42% of the company’s stock.

About Skeena Resources

(Get Rating)

Skeena Resources Limited explores 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 four mineral tenures that covers an area of approximately 1,932 hectares; and the Eskay Creek gold mine that consists of eight mineral leases, two surface leases, and various unpatented mining claims, which total 6,151 hectares located in British Columbia, Canada.

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