Skeena Resources (NYSE:SKE) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Skeena Resources (NYSE:SKE) issued its earnings results on Tuesday. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03), Zacks reports.

Skeena Resources Stock Down 1.8%

Shares of Skeena Resources stock opened at $26.84 on Thursday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of -23.63 and a beta of 1.17. The stock’s 50-day simple moving average is $31.87 and its 200-day simple moving average is $24.19. Skeena Resources has a 52 week low of $8.53 and a 52 week high of $38.77.

Institutional Trading of Skeena Resources

Several hedge funds have recently made changes to their positions in SKE. Caitong International Asset Management Co. Ltd bought a new stake in shares of Skeena Resources in the fourth quarter valued at about $43,000. Russell Investments Group Ltd. purchased a new position in Skeena Resources during the fourth quarter valued at approximately $45,000. PNC Financial Services Group Inc. raised its stake 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 buying an additional 1,940 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Skeena Resources during the 4th quarter valued at $98,000. Finally, Advisory Services Network LLC purchased a new position in shares of Skeena Resources in the 3rd quarter valued at $99,000. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on SKE. Wall Street Zen raised Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Scotiabank restated an “outperform” rating on shares of Skeena Resources in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed 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 report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.