Skeena Resources (NYSE:SKE) Upgraded by Desjardins to “Moderate Buy” Rating

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

Skeena Resources Stock Down 1.4 %

Shares of SKE traded down $0.14 during trading hours on Thursday, hitting $9.60. The company had a trading volume of 184,851 shares, compared to its average volume of 265,327. The firm has a market cap of $1.03 billion, a P/E ratio of -8.57 and a beta of 1.33. The stock’s 50 day moving average price is $8.73 and its 200 day moving average price is $6.63. Skeena Resources has a 52-week low of $3.05 and a 52-week high of $10.33.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Van ECK Associates Corp increased its holdings in Skeena Resources by 16.1% during the 3rd 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 during the period. Helikon Investments Ltd purchased a new position in Skeena Resources during the 3rd quarter valued at about $18,159,000. Pinnacle Wealth Management Group Inc. bought a new stake in Skeena Resources during the 3rd quarter valued at approximately $110,000. Mackenzie Financial Corp bought a new stake in Skeena Resources during the 2nd quarter valued at approximately $179,000. Finally, Marshall Wace LLP boosted its position in Skeena Resources by 318.8% during the 2nd 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 in the last quarter. Hedge funds and other 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.