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

Skeena Resources (NYSE:SKE) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Other equities analysts have also recently issued reports about the stock. Scotiabank restated an “outperform” rating on shares of Skeena Resources in a research report on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Skeena Resources in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Skeena Resources presently has an average rating of “Moderate Buy”.

Skeena Resources Price Performance

Shares of NYSE:SKE opened at $27.60 on Friday. The business’s 50 day simple moving average is $31.88 and its 200 day simple moving average is $24.37. Skeena Resources has a 1 year low of $8.53 and a 1 year high of $38.77. The company has a market capitalization of $3.35 billion, a P/E ratio of -24.42 and a beta of 1.16.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Helikon Investments Ltd boosted its holdings in shares of Skeena Resources by 20.3% during the 3rd quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock worth $310,948,000 after buying an additional 2,841,708 shares in the last quarter. Vanguard Group Inc. boosted its stake in Skeena Resources by 108.3% during the fourth 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 stake in Skeena Resources by 43.4% during the second quarter. Amundi now owns 2,258,524 shares of the company’s stock worth $35,640,000 after acquiring an additional 683,524 shares in the last quarter. Millennium Management LLC grew its holdings in Skeena Resources by 44.6% in the fourth quarter. Millennium Management LLC now owns 2,202,510 shares of the company’s stock worth $52,309,000 after purchasing an additional 679,709 shares during the period. Finally, Van ECK Associates Corp increased its stake in Skeena Resources by 16.5% in the third quarter. Van ECK Associates Corp now owns 4,741,607 shares of the company’s stock valued at $87,404,000 after purchasing an additional 670,200 shares in the last quarter. 45.15% of the stock is owned by institutional investors and hedge funds.

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.