Wall Street Zen Downgrades Skeena Resources (NYSE:SKE) to Sell

Skeena Resources (NYSE:SKE - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

Separately, Raymond James reissued a "strong-buy" rating on shares of Skeena Resources in a research report on Friday, April 4th.

Skeena Resources Stock Performance

NYSE SKE traded down $0.17 during trading hours on Thursday, hitting $12.50. The company had a trading volume of 85,216 shares, compared to its average volume of 388,725. Skeena Resources has a 1-year low of $4.10 and a 1-year high of $13.15. The company has a market cap of $1.43 billion, a PE ratio of -9.11 and a beta of 1.20. The business has a 50 day moving average of $11.13 and a 200-day moving average of $10.08.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Sell-side analysts expect that Skeena Resources will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of Skeena Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in SKE. Helikon Investments Ltd increased its stake in Skeena Resources by 33.4% in 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 during the period. Jupiter Asset Management Ltd. raised its stake 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 in the last quarter. Amundi raised its stake in shares of Skeena Resources by 29.2% during the 1st quarter. Amundi now owns 1,575,000 shares of the company's stock worth $15,340,000 after buying an additional 355,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of 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 buying an additional 367,300 shares during the period. Finally, TD Asset Management Inc boosted its stake in shares of Skeena Resources by 28.9% in the first quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock valued at $12,959,000 after buying an additional 288,312 shares in the last quarter. 45.15% of the stock is owned by hedge funds and other 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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