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

Key Points

• Wall Street Zen upgraded Skeena Resources from “strong sell” to “sell,” while analyst opinions remain mixed; MarketBeat lists the stock’s average rating as “Moderate Buy.”
• SKE opened at $33.09, with a 52-week range of $14.53 to $38.77 and a market capitalization of approximately $4.12 billion.
• The company reported a quarterly loss of $0.21 per share, missing the consensus estimate of a $0.11 loss; analysts expect a full-year loss of approximately $1.23 per share.

Skeena Resources (NYSE:SKE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday.

Several other brokerages also recently commented on SKE. Zacks Research raised Skeena Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Skeena Resources in a research report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Skeena Resources presently has an average rating of "Moderate Buy".

Skeena Resources Price Performance

SKE opened at $33.09 on Friday. Skeena Resources has a fifty-two week low of $14.53 and a fifty-two week high of $38.77. The firm has a market capitalization of $4.12 billion, a PE ratio of -22.06 and a beta of 1.14. The company's 50-day moving average is $27.99 and its 200 day moving average is $30.26.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its quarterly earnings results 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). As a group, analysts expect that Skeena Resources will post -1.23 EPS for the current year.

Institutional Investors Weigh In On Skeena Resources

A number of hedge funds have recently made changes to their positions in SKE. Rockefeller Capital Management L.P. grew its position in Skeena Resources by 41.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company's stock valued at $37,000 after buying an additional 455 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Skeena Resources during the fourth quarter worth about $43,000. Russell Investments Group Ltd. bought a new stake in Skeena Resources in the fourth quarter worth about $45,000. PNC Financial Services Group Inc. raised its position in Skeena Resources by 431.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company's stock worth $44,000 after acquiring an additional 1,940 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in Skeena Resources in the fourth quarter worth about $98,000. 45.15% of the stock is currently 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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