Skeena Resources (NYSE:SKE) Given Sell (D-) Rating at Weiss Ratings

Key Points

• Skeena Resources has received a Sell (D-) rating from Weiss Ratings, reaffirming concerns about its stock performance.
• TD Securities initiated coverage with a Buy rating, contributing to a consensus rating of Moderate Buy from analysts.
• The company's recent earnings report revealed a loss of $0.03 per share, missing expectations, while revenues matched forecasts at $1.90 million.

Skeena Resources (NYSE:SKE - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, TD Securities assumed coverage on Skeena Resources in a research report on Tuesday, August 12th. They issued a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Skeena Resources has a consensus rating of "Moderate Buy".

Skeena Resources Stock Performance

NYSE SKE traded up $1.22 during trading hours on Wednesday, reaching $18.79. The stock had a trading volume of 1,324,929 shares, compared to its average volume of 951,831. The stock has a fifty day moving average of $16.77 and a 200 day moving average of $14.39. The stock has a market cap of $2.16 billion, a P/E ratio of -17.24 and a beta of 1.27. Skeena Resources has a 52-week low of $7.32 and a 52-week high of $19.33.

Skeena Resources (NYSE:SKE - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The company had revenue of $1.90 million during the quarter, compared to analysts' expectations of $1.90 million. On average, equities research analysts forecast that Skeena Resources will post -0.98 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SKE. Helikon Investments Ltd lifted its position in shares of Skeena Resources by 33.4% during the 1st quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock valued at $120,246,000 after buying an additional 2,986,891 shares in the last quarter. Bornite Capital Management LP acquired a new position in Skeena Resources in the 1st quarter valued at $9,581,000. Amundi raised its stake in Skeena Resources by 43.4% in the 2nd quarter. Amundi now owns 2,258,524 shares of the company's stock valued at $35,640,000 after purchasing an additional 683,524 shares during the last quarter. Waratah Capital Advisors Ltd. acquired a new position in Skeena Resources in the 2nd quarter valued at $9,097,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Skeena Resources by 31.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock valued at $15,370,000 after purchasing an additional 367,300 shares during the last quarter. Hedge funds and other institutional investors own 45.15% of the company's stock.

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.

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