Skeena Resources (NYSE:SKE) Stock Gets Downgrade from Zacks Research

Skeena Resources (NYSE:SKE) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Thursday, Zacks reports.

A number of other equities research analysts have also recently issued reports on the stock. Wall Street Zen upgraded shares of Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Royal Bank Of Canada upgraded Skeena Resources to a “moderate buy” rating in a research note on Tuesday, September 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research report on Thursday, October 15th. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Skeena Resources Price Performance

Shares of Skeena Resources stock opened at $27.99 on Thursday. The firm has a fifty day simple moving average of $31.82 and a 200-day simple moving average of $30.22. The company has a current ratio of 3.15, a quick ratio of 3.15 and a debt-to-equity ratio of 5.66. Skeena Resources has a 1-year low of $15.43 and a 1-year high of $38.77. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -18.66 and a beta of 1.18.

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). On average, sell-side analysts expect that Skeena Resources will post -1.21 earnings per share for the current year.

Institutional Investors Weigh In On Skeena Resources

Several hedge funds have recently made changes to their positions in the stock. Grand Central Investment Group grew its holdings in shares of Skeena Resources by 2.9% during the 1st quarter. Grand Central Investment Group now owns 12,958 shares of the company’s stock worth $385,000 after purchasing an additional 364 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Skeena Resources by 41.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company’s stock valued at $37,000 after purchasing an additional 455 shares during the period. Pictet Asset Management Holding SA raised its stake in shares of Skeena Resources by 5.1% in the first quarter. Pictet Asset Management Holding SA now owns 16,047 shares of the company’s stock valued at $476,000 after purchasing an additional 776 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Skeena Resources in the second quarter valued at $37,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Skeena Resources by 2,443.3% in the third quarter. Farther Finance Advisors LLC now owns 1,526 shares of the company’s stock valued at $45,000 after purchasing an additional 1,466 shares in the last quarter. Institutional investors own 45.15% of the company’s stock.

About Skeena Resources

Skeena Resources Limited (NYSE:SKE) is a Canadian mineral exploration and development company focused on advancing precious-metal projects in British Columbia. Its primary asset is the Eskay Creek gold-silver project in the Golden Triangle region of northwest British Columbia.

Eskay Creek was previously an operating underground mine and produced gold and silver before closing in 2008. Skeena acquired the project in 2017 and is working to redevelop it as a modern open-pit mining operation.