Skeena Resources (NYSE:SKE) Upgraded to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Skeena Resources (NYSE:SKE) from a strong sell rating to a sell rating in a report published on Saturday.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Friday, July 17th. Zacks Research raised shares of Skeena Resources from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Skeena Resources Stock Performance

Shares of NYSE SKE opened at $33.09 on Friday. Skeena Resources has a 1 year low of $14.53 and a 1 year high of $38.77. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of -22.06 and a beta of 1.14. The stock’s 50-day simple moving average is $27.99 and its 200-day simple moving average is $30.26.

Skeena Resources (NYSE:SKE) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.10). As a group, research analysts predict that Skeena Resources will post -1.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SKE. Van ECK Associates Corp grew its stake in shares of Skeena Resources by 2.5% in the 4th quarter. Van ECK Associates Corp now owns 4,862,516 shares of the company’s stock worth $115,427,000 after purchasing an additional 120,909 shares during the last quarter. Vanguard Group Inc. raised its stake in Skeena Resources by 108.3% during the 4th quarter. Vanguard Group Inc. now owns 2,625,277 shares of the company’s stock valued at $62,353,000 after purchasing an additional 1,364,835 shares during the period. Amundi raised its stake in Skeena Resources by 1.9% during the 4th quarter. Amundi now owns 2,536,138 shares of the company’s stock valued at $60,183,000 after purchasing an additional 47,516 shares during the period. Franklin Resources Inc. boosted its position in Skeena Resources by 7.6% during the 4th quarter. Franklin Resources Inc. now owns 2,396,970 shares of the company’s stock worth $56,933,000 after acquiring an additional 168,932 shares during the period. Finally, Millennium Management LLC grew its stake in Skeena Resources by 44.6% during the 4th quarter. Millennium Management LLC now owns 2,202,510 shares of the company’s stock valued at $52,309,000 after acquiring an additional 679,709 shares in the last quarter. 45.15% of the stock is currently owned by institutional investors.

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.