Skeena Resources (NYSE:SKE) Sets New 12-Month High – Still a Buy?

Shares of Skeena Resources Limited (NYSE:SKE) reached a new 52-week high during trading on Thursday . The stock traded as high as $37.24 and last traded at $36.3940, with a volume of 663002 shares trading hands. The stock had previously closed at $36.01.

Wall Street Analysts Forecast Growth

SKE has been the topic of several recent research reports. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday, January 21st. Wall Street Zen upgraded Skeena Resources from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Skeena Resources Trading Up 1.1%

The firm has a market cap of $4.41 billion, a PE ratio of -49.85 and a beta of 1.22. The company’s 50-day moving average is $28.98 and its 200 day moving average is $21.95.

Institutional Trading of Skeena Resources

Hedge funds have recently modified their holdings of the business. Helikon Investments Ltd grew its holdings in shares of Skeena Resources by 20.3% during the third quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock valued at $310,948,000 after buying an additional 2,841,708 shares in the last quarter. Vanguard Group Inc. lifted its stake in Skeena Resources by 108.3% in the 4th quarter. Vanguard Group Inc. now owns 2,625,277 shares of the company’s stock worth $62,353,000 after acquiring an additional 1,364,835 shares in the last quarter. Amundi boosted its position in Skeena Resources by 43.4% during the 2nd quarter. Amundi now owns 2,258,524 shares of the company’s stock worth $35,640,000 after acquiring an additional 683,524 shares during the period. Millennium Management LLC boosted its position in Skeena Resources by 44.6% during the 4th quarter. Millennium Management LLC now owns 2,202,510 shares of the company’s stock worth $52,309,000 after acquiring an additional 679,709 shares during the period. Finally, Van ECK Associates Corp grew its stake in Skeena Resources by 16.5% during the 3rd quarter. Van ECK Associates Corp now owns 4,741,607 shares of the company’s stock valued at $87,404,000 after acquiring an additional 670,200 shares in the last quarter. Hedge funds and other 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.