Weiss Ratings Reiterates "Sell (D-)" Rating for Skeena Resources (NYSE:SKE)

Key Points

• Weiss Ratings has reiterated a "Sell (D-)" rating for Skeena Resources, indicating a cautious outlook on the company's stock performance.
• Despite Weiss Ratings' position, other firms like Scotiabank and TD Securities have issued more favorable ratings, including "Outperform" and "Buy" respectively.
• Skeena Resources reported a quarterly earnings miss, with an EPS of ($0.03), falling short of analysts' estimates, and generated $1.90 million in revenue.

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

Other equities research analysts have also issued research reports about the company. Scotiabank reaffirmed an "outperform" rating on shares of Skeena Resources in a report on Thursday. TD Securities started coverage on Skeena Resources in a research note on Tuesday, August 12th. They set a "buy" rating on the stock. Desjardins raised Skeena Resources to a "moderate buy" rating in a research note on Wednesday, October 8th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Skeena Resources in a research note on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Skeena Resources has an average rating of "Moderate Buy".

Skeena Resources Trading Down 1.7%

Shares of SKE opened at $16.56 on Friday. Skeena Resources has a twelve month low of $7.32 and a twelve month high of $20.77. The stock's 50 day moving average is $17.50 and its two-hundred day moving average is $15.09. The firm has a market capitalization of $2.00 billion, a PE ratio of -15.19 and a beta of 1.27.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Skeena Resources by 6.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 478,500 shares of the company's stock worth $4,826,000 after purchasing an additional 27,500 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Skeena Resources by 174.0% during the 1st 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 last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Skeena Resources during the 1st quarter worth approximately $359,000. Deutsche Bank AG raised its position in shares of Skeena Resources by 49.4% during the 1st quarter. Deutsche Bank AG now owns 221,443 shares of the company's stock worth $2,234,000 after purchasing an additional 73,215 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Skeena Resources during the 1st quarter worth approximately $717,000. 45.15% of the stock is currently owned by institutional investors and hedge funds.

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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