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

Skeena Resources (NYSE:SKE) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other equities research analysts have also recently commented on SKE. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Skeena Resources has an average rating of “Moderate Buy”.

Skeena Resources Price Performance

Shares of Skeena Resources stock opened at $27.60 on Friday. The business has a 50-day simple moving average of $31.88 and a 200 day simple moving average of $24.27. Skeena Resources has a one year low of $8.53 and a one year high of $38.77. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -24.42 and a beta of 1.17.

Hedge Funds Weigh In On Skeena Resources

Several large investors have recently added to or reduced their stakes in the business. Helikon Investments Ltd boosted its stake in Skeena Resources by 20.3% during the 3rd quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock valued at $310,948,000 after purchasing an additional 2,841,708 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Skeena Resources by 108.3% in the fourth quarter. Vanguard Group Inc. now owns 2,625,277 shares of the company’s stock worth $62,353,000 after purchasing an additional 1,364,835 shares during the last quarter. Amundi lifted its holdings in shares of Skeena Resources by 43.4% in the second quarter. Amundi now owns 2,258,524 shares of the company’s stock valued at $35,640,000 after purchasing an additional 683,524 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Skeena Resources by 44.6% in the fourth quarter. Millennium Management LLC now owns 2,202,510 shares of the company’s stock valued at $52,309,000 after purchasing an additional 679,709 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of 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 last quarter. 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.