Skeena Resources (NYSE:SKE) Releases Earnings Results

Skeena Resources (NYSE:SKE) issued its earnings results on Friday. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.09), Zacks reports.

Skeena Resources Stock Performance

Shares of SKE traded down $2.98 during trading hours on Friday, reaching $31.06. The stock had a trading volume of 903,223 shares, compared to its average volume of 911,005. Skeena Resources has a 12 month low of $11.00 and a 12 month high of $38.77. The stock has a market capitalization of $3.78 billion, a PE ratio of -27.49 and a beta of 1.13. The company’s 50-day moving average is $31.14 and its two-hundred day moving average is $27.40.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in Skeena Resources during the 4th quarter worth $43,000. Russell Investments Group Ltd. bought a new position in Skeena Resources during the 4th quarter worth $45,000. PNC Financial Services Group Inc. raised its position in Skeena Resources by 431.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock worth $44,000 after purchasing an additional 1,940 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Skeena Resources during the 4th quarter worth $98,000. Finally, Advisory Services Network LLC bought a new position in Skeena Resources during the 3rd quarter worth $99,000. 45.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Skeena Resources from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. Scotiabank reiterated an “outperform” rating on shares of Skeena Resources in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Skeena Resources in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Skeena Resources currently has a consensus rating of “Moderate Buy”.

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.