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

Skeena Resources (NYSE:SKE) was upgraded by Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.

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

Skeena Resources Price Performance

Shares of NYSE SKE opened at $33.09 on Friday. Skeena Resources has a fifty-two week low of $14.53 and a fifty-two week high of $38.77. The company has a market cap of $4.12 billion, a PE ratio of -22.06 and a beta of 1.14. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15. The business has a 50-day simple moving average of $27.99 and a two-hundred day simple moving average of $30.25.

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

Institutional Inflows and Outflows

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

About Skeena Resources

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.