Skeena Resources (NYSE:SKE) Trading Up 3.4% – Time to Buy?

Shares of Skeena Resources Limited (NYSE:SKE) rose 3.4% on Friday . The stock traded as high as $25.46 and last traded at $25.33. Approximately 121,641 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 543,053 shares. The stock had previously closed at $24.49.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SKE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research report on Wednesday, October 8th. Raymond James Financial reissued a “strong-buy” rating on shares of Skeena Resources in a report on Friday, October 10th. Wall Street Zen upgraded shares of Skeena Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Scotiabank reiterated an “outperform” rating on shares of Skeena Resources in a research report on Thursday, October 23rd. Finally, Desjardins upgraded shares of Skeena Resources to a “moderate buy” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Performance

The company’s 50-day moving average is $19.86 and its 200-day moving average is $17.65. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -34.66 and a beta of 1.23.

Skeena Resources (NYSE:SKE) last posted its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). On average, analysts predict that Skeena Resources Limited will post -0.98 EPS for the current year.

Institutional Investors Weigh In On Skeena Resources

Several hedge funds and other institutional investors have recently made changes to their positions in SKE. PNC Financial Services Group Inc. increased its position in Skeena Resources by 431.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock worth $44,000 after purchasing an additional 1,940 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Skeena Resources during the 1st quarter valued at about $89,000. Advisory Services Network LLC bought a new position in shares of Skeena Resources in the 3rd quarter valued at about $99,000. Cutler Capital Management LLC acquired a new stake in shares of Skeena Resources during the 2nd quarter worth approximately $167,000. Finally, Jain Global LLC acquired a new stake in shares of Skeena Resources during the 3rd quarter worth approximately $189,000. 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.