Desjardins Upgrades Skeena Resources (NYSE:SKE) to Moderate Buy

Skeena Resources (NYSE:SKE - Get Free Report) was upgraded by equities research analysts at Desjardins to a "moderate buy" rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

Skeena Resources Stock Down 1.4 %

Shares of SKE stock traded down $0.14 during trading hours on Thursday, reaching $9.60. 184,851 shares of the company's stock were exchanged, compared to its average volume of 265,327. The business has a fifty day moving average price of $8.73 and a 200-day moving average price of $6.63. 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 has a fifty-two week low of $3.05 and a fifty-two week high of $10.33.

Skeena Resources (NYSE:SKE - Get Free Report) last issued 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, research analysts expect that Skeena Resources will post -0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Skeena Resources

Several hedge funds have recently added to or reduced their stakes in the company. Helikon Investments Ltd bought a new position in Skeena Resources during the third quarter worth about $18,159,000. Van ECK Associates Corp boosted its holdings 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 worth $42,406,000 after buying an additional 693,745 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Skeena Resources during the second quarter worth about $2,682,000. Goehring & Rozencwajg Associates LLC boosted its holdings 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 worth $7,888,000 after buying an additional 273,300 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in Skeena Resources by 318.8% during the second quarter. Marshall Wace LLP now owns 172,952 shares of the company's stock worth $929,000 after buying an additional 131,657 shares during the last quarter. Institutional investors own 45.15% of the company's stock.

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.