Skeena Resources (NYSE:SKE) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Skeena Resources (NYSE:SKEGet Rating) from a sell rating to a hold rating in a research report sent to investors on Saturday, Zacks.com reports.

According to Zacks, “Skeena Resources Limited is a mining exploration company. It focused on developing precious metal properties principally in the Golden Triangle of northwest British Columbia, Canada. Skeena Resources Limited is based in Vancouver, Canada. “

A number of other brokerages also recently weighed in on SKE. CIBC assumed coverage on Skeena Resources in a report on Monday, March 14th. They issued an outperform rating on the stock. Raymond James lowered their target price on Skeena Resources from C$22.00 to C$20.00 in a research report on Wednesday, May 18th.

Skeena Resources stock opened at $7.23 on Friday. Skeena Resources has a 12 month low of $7.12 and a 12 month high of $13.60. The company has a 50 day moving average price of $9.85.

Institutional investors have recently bought and sold shares of the business. Luxor Capital Group LP bought a new stake in Skeena Resources during the 4th quarter valued at $31,850,000. Van ECK Associates Corp bought a new stake in Skeena Resources in the fourth quarter worth $31,711,000. Invesco Ltd. bought a new stake in Skeena Resources in the fourth quarter worth $21,218,000. Sprott Inc. bought a new stake in Skeena Resources in the fourth quarter worth $12,273,000. Finally, Merk Investments LLC bought a new position in shares of Skeena Resources during the fourth quarter valued at about $7,301,000. 27.94% of the stock is currently owned by hedge funds and other institutional investors.

About Skeena Resources (Get Rating)

Skeena Resources Limited explores 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 four mineral tenures that covers an area of approximately 1,932 hectares; and the Eskay Creek gold mine that consists of eight mineral leases, two surface leases, and various unpatented mining claims, which total 6,151 hectares located in British Columbia, Canada.

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