Skeena Resources (NYSE:SKE) Stock Rating Upgraded by Desjardins

Key Points

• Skeena Resources has been upgraded by Desjardins to a "moderate buy" rating, following a report to clients and investors.
• The stock has shown a one-year low of $7.32 and a one-year high of $19.33, currently trading at $18.79.
• Several institutional investors, including Goldman Sachs and Deutsche Bank, have recently increased their stakes in Skeena Resources, indicating growing investor interest in the company.

Skeena Resources (NYSE:SKE - Get Free Report) was upgraded by Desjardins to a "moderate buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. TD Securities assumed 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Skeena Resources has a consensus rating of "Moderate Buy".

Skeena Resources Price Performance

Skeena Resources stock opened at $18.79 on Wednesday. Skeena Resources has a one year low of $7.32 and a one year high of $19.33. The company's fifty day moving average price is $16.77 and its two-hundred day moving average price is $14.39. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -17.24 and a beta of 1.27.

Skeena Resources (NYSE:SKE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The firm had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.90 million. As a group, sell-side analysts anticipate that Skeena Resources will post -0.98 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Skeena Resources by 6.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 478,500 shares of the company's stock valued at $4,826,000 after buying an additional 27,500 shares during the period. Goldman Sachs Group Inc. lifted its stake in Skeena Resources by 174.0% during the first quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company's stock worth $3,172,000 after purchasing an additional 199,654 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Skeena Resources during the first quarter worth about $359,000. Deutsche Bank AG boosted its stake in Skeena Resources by 49.4% in the 1st quarter. Deutsche Bank AG now owns 221,443 shares of the company's stock valued at $2,234,000 after buying an additional 73,215 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Skeena Resources in the 1st quarter valued at $717,000. 45.15% of the stock is owned by 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.

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