Skeena Resources (NYSE:SKE) Rating Increased to Moderate Buy at Desjardins

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

Skeena Resources Stock Performance

Shares of NYSE SKE opened at $9.60 on Thursday. The company 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 52-week low of $3.05 and a 52-week high of $10.33. The company’s 50 day moving average price is $8.73 and its 200-day moving average price is $6.63.

Skeena Resources (NYSE:SKE) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). Analysts forecast that Skeena Resources will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pinnacle Wealth Management Group Inc. bought a new stake in shares of Skeena Resources in the 3rd quarter valued at $110,000. Nokomis Capital L.L.C. bought a new stake in shares of Skeena Resources in the 1st quarter valued at $155,000. Mackenzie Financial Corp bought a new stake in shares of Skeena Resources in the 2nd quarter valued at $179,000. Knoll Capital Management LLC bought a new stake in shares of Skeena Resources in the 1st quarter valued at $179,000. Finally, Corundum Trust Company INC bought a new stake in shares of Skeena Resources in the 2nd quarter valued at $350,000. Institutional investors and hedge funds 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.