Skeena Resources (NYSE:SKE) Stock Rating Lowered by Wall Street Zen

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

SKE has been the subject of several other research reports. Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a report on Thursday, October 23rd. Raymond James Financial reissued a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday, October 8th. Finally, Desjardins upgraded shares of Skeena Resources to a “moderate buy” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Skeena Resources presently has an average rating of “Moderate Buy”.

Skeena Resources Stock Up 0.8%

Shares of Skeena Resources stock opened at $26.95 on Friday. Skeena Resources has a twelve month low of $8.53 and a twelve month high of $27.42. The company’s 50 day moving average is $22.46 and its 200 day moving average is $18.73. The company has a market cap of $3.26 billion, a price-to-earnings ratio of -36.92 and a beta of 1.22.

Skeena Resources (NYSE:SKE) last posted its earnings results on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Sell-side analysts expect that Skeena Resources will post -0.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Skeena Resources

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Skeena Resources by 431.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after purchasing an additional 1,940 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Skeena Resources in the first quarter worth $89,000. Advisory Services Network LLC bought a new stake in shares of Skeena Resources during the 3rd quarter valued at $99,000. Cutler Capital Management LLC purchased a new position in shares of Skeena Resources during the 2nd quarter valued at $167,000. Finally, Jain Global LLC purchased a new position in shares of Skeena Resources during the 3rd quarter valued at $189,000. 45.15% of the stock is owned by hedge funds and other 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.