Skeena Resources (NYSE:SKE) Stock Moved Down to “Strong Sell” by Zacks Research

Zacks Research lowered shares of Skeena Resources (NYSE:SKE) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks reports.

SKE has been the subject of a number of other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a report on Thursday, October 15th. Wall Street Zen raised Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Royal Bank Of Canada raised Skeena Resources to a “moderate buy” rating in a report on Tuesday, September 15th. Three investment analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Skeena Resources Stock Down 2.6%

Shares of NYSE SKE opened at $27.99 on Thursday. Skeena Resources has a 12-month low of $15.43 and a 12-month high of $38.77. The firm’s 50-day simple moving average is $31.82 and its 200 day simple moving average is $30.22. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 5.66. The company has a market cap 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 for the quarter, missing the consensus estimate of ($0.11) by ($0.10). On average, research analysts expect that Skeena Resources will post -1.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skeena Resources

Several institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its holdings in Skeena Resources by 41.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company’s stock worth $37,000 after acquiring an additional 455 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Skeena Resources in the second quarter valued at about $37,000. Farther Finance Advisors LLC boosted its stake in Skeena Resources by 2,443.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,526 shares of the company’s stock worth $45,000 after acquiring an additional 1,466 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Skeena Resources during the first quarter worth $219,000. Finally, Engineers Gate Manager LP acquired a new position in Skeena Resources in the second quarter valued at about $271,000. Institutional investors and hedge funds own 45.15% of the company’s stock.

Skeena Resources Company Profile

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.