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

Skeena Resources (NYSE:SKE) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Sunday.

A number of other equities research analysts also recently weighed in on SKE. Raymond James Financial restated a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a research note on Thursday, October 23rd. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Skeena Resources presently has an average rating of “Moderate Buy”.

Skeena Resources Trading Up 0.5%

Skeena Resources stock opened at $31.40 on Friday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of -43.01 and a beta of 1.22. The company’s 50-day moving average price is $23.64 and its two-hundred day moving average price is $19.19. Skeena Resources has a 52 week low of $8.53 and a 52 week high of $31.94.

Skeena Resources (NYSE:SKE) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Research analysts expect that Skeena Resources will post -0.98 earnings per share for the current fiscal year.

Institutional Trading of Skeena Resources

Hedge funds have recently modified their holdings of the business. Helikon Investments Ltd boosted its position in shares of Skeena Resources by 20.3% in the third quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock worth $310,948,000 after buying an additional 2,841,708 shares during the period. Van ECK Associates Corp raised its position in Skeena Resources by 16.5% during the third quarter. Van ECK Associates Corp now owns 4,741,607 shares of the company’s stock valued at $87,404,000 after buying an additional 670,200 shares during the period. Amundi lifted its stake in Skeena Resources by 10.2% in the 3rd quarter. Amundi now owns 2,488,622 shares of the company’s stock worth $45,144,000 after acquiring an additional 230,098 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Skeena Resources by 1.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,539,488 shares of the company’s stock worth $24,503,000 after acquiring an additional 15,450 shares during the period. Finally, TD Asset Management Inc grew its stake in Skeena Resources by 16.3% during the 3rd quarter. TD Asset Management Inc now owns 1,484,909 shares of the company’s stock valued at $27,352,000 after acquiring an additional 208,095 shares in 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.