Skeena Resources (NYSE:SKE) Upgraded at Desjardins

Desjardins upgraded shares of Skeena Resources (NYSE:SKE) to a moderate buy rating in a research report sent to investors on Thursday, Zacks.com reports.

Skeena Resources Price Performance

Shares of NYSE SKE opened at $9.60 on Thursday. The business has a fifty day moving average price of $8.73 and a 200 day moving average price of $6.63. Skeena Resources has a 1-year low of $3.05 and a 1-year high of $10.33. The stock has a market capitalization of $1.03 billion, a P/E ratio of -8.57 and a beta of 1.33.

Skeena Resources (NYSE:SKE) last posted its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). As a group, equities research analysts anticipate that Skeena Resources will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skeena Resources

A number of institutional investors and hedge funds have recently modified their holdings of the company. Helikon Investments Ltd purchased a new stake in Skeena Resources in the third quarter valued at $18,159,000. Van ECK Associates Corp boosted its stake in shares of Skeena Resources by 16.1% in the third quarter. Van ECK Associates Corp now owns 5,012,498 shares of the company’s stock worth $42,406,000 after buying an additional 693,745 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Skeena Resources during the second quarter worth about $2,682,000. 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 acquiring an additional 273,300 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in Skeena Resources by 318.8% in the second quarter. Marshall Wace LLP now owns 172,952 shares of the company’s stock valued at $929,000 after acquiring an additional 131,657 shares during the period. Institutional investors and hedge funds 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.