Skeena Resources (NYSE:SKE) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Skeena Resources (NYSE:SKE) posted its earnings results on Friday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.09), Zacks reports.

Skeena Resources Price Performance

NYSE:SKE traded down $2.98 during trading hours on Friday, reaching $31.06. 903,223 shares of the company were exchanged, compared to its average volume of 911,005. The company has a market capitalization of $3.78 billion, a P/E ratio of -27.49 and a beta of 1.13. Skeena Resources has a 1-year low of $11.00 and a 1-year high of $38.77. The business has a 50 day moving average of $31.14 and a 200 day moving average of $27.40.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SKE. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research report on Monday, April 20th. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a research report on Monday, January 26th. Finally, Wall Street Zen downgraded Skeena Resources from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. One equities 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 company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Skeena Resources

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Skeena Resources in the 4th quarter valued at $43,000. PNC Financial Services Group Inc. boosted its holdings in shares of Skeena Resources by 431.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after purchasing an additional 1,940 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Skeena Resources in the 4th quarter valued at $45,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Skeena Resources in the 1st quarter valued at $89,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Skeena Resources in the 4th quarter valued at $98,000. Institutional investors and hedge funds own 45.15% of the company’s stock.

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.