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

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

Several other equities research analysts have also recently commented on SKE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a report on Friday, July 17th. Zacks Research raised Skeena Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. 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 given a Sell rating to the stock. According to MarketBeat, Skeena Resources presently has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Down 2.8%

SKE stock opened at $32.15 on Friday. The company has a market cap of $4.00 billion, a price-to-earnings ratio of -21.43 and a beta of 1.14. 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 12 month low of $14.53 and a 12 month high of $38.77. The firm has a 50-day moving average of $28.10 and a two-hundred day moving average of $30.24.

Skeena Resources (NYSE:SKE) last released its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). As a group, analysts forecast that Skeena Resources will post -1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Skeena Resources

A number of institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Skeena Resources by 2.5% in the 4th 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 period. Vanguard Group Inc. increased its holdings in shares of 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 shares of Skeena Resources by 1.9% during the 4th quarter. Amundi now owns 2,536,138 shares of the company’s stock valued at $60,183,000 after buying an additional 47,516 shares during the period. Franklin Resources Inc. raised its position in shares of 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 buying an additional 168,932 shares during the period. Finally, Millennium Management LLC lifted 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 valued at $52,309,000 after acquiring an additional 679,709 shares during the last quarter. 45.15% of the stock is 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.