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

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

Other equities analysts have also recently issued research reports about the company. TD Securities began coverage on Skeena Resources in a research report on Tuesday, August 12th. They set a “buy” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, October 8th. Desjardins upgraded shares of Skeena Resources to a “moderate buy” rating in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Finally, Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Skeena Resources Trading Down 1.7%

NYSE SKE opened at $17.53 on Friday. Skeena Resources has a 1 year low of $7.57 and a 1 year high of $20.77. The company has a fifty day simple moving average of $17.69 and a 200 day simple moving average of $15.69. The company has a market cap of $2.12 billion, a P/E ratio of -16.09 and a beta of 1.25.

Skeena Resources (NYSE:SKE) last announced its earnings results on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Equities research analysts forecast that Skeena Resources will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Skeena Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in SKE. Helikon Investments Ltd increased its stake in Skeena Resources by 20.3% in the third quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock valued at $310,948,000 after acquiring an additional 2,841,708 shares during the period. Van ECK Associates Corp grew its stake in shares of Skeena Resources by 16.5% in the 3rd 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 during the period. Amundi raised its holdings in shares of Skeena Resources by 10.2% in the 3rd quarter. Amundi now owns 2,488,622 shares of the company’s stock worth $45,144,000 after buying an additional 230,098 shares in the last quarter. Jupiter Asset Management Ltd. lifted its position in shares of Skeena Resources by 28.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company’s stock worth $16,293,000 after buying an additional 357,146 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Skeena Resources by 1.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,539,488 shares of the company’s stock valued at $24,503,000 after buying an additional 15,450 shares in the last quarter. 45.15% of the stock is owned by 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.