Scotiabank Reduces Earnings Estimates for Skeena Resources

Skeena Resources Limited (NYSE:SKE) – Equities research analysts at Scotiabank lowered their FY2027 earnings per share estimates for Skeena Resources in a research note issued to investors on Wednesday, August 19th. Scotiabank analyst O. Habib now forecasts that the company will earn $0.39 per share for the year, down from their prior estimate of $0.41. The consensus estimate for Skeena Resources’ current full-year earnings is ($1.23) per share.

A number of other brokerages have also weighed in on SKE. Zacks Research raised shares of Skeena Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a research note on Friday, July 17th. Finally, Wall Street Zen raised Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Skeena Resources Stock Up 2.1%

SKE stock opened at $34.86 on Friday. The stock has a market capitalization of $4.34 billion, a P/E ratio of -23.24 and a beta of 1.14. The firm has a 50-day simple moving average of $28.56 and a 200-day simple moving average of $30.27. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 5.66. Skeena Resources has a 52 week low of $14.85 and a 52 week high of $38.77.

Skeena Resources (NYSE:SKE) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.10).

Institutional Trading of Skeena Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Grand Central Investment Group raised its stake in shares of Skeena Resources by 2.9% in the first quarter. Grand Central Investment Group now owns 12,958 shares of the company’s stock valued at $385,000 after acquiring an additional 364 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in Skeena Resources by 41.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company’s stock worth $37,000 after purchasing an additional 455 shares in the last quarter. Pictet Asset Management Holding SA grew its stake in Skeena Resources by 5.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 16,047 shares of the company’s stock worth $476,000 after purchasing an additional 776 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Skeena Resources by 6.3% during the 4th quarter. Public Employees Retirement System of Ohio now owns 17,240 shares of the company’s stock worth $410,000 after purchasing an additional 1,019 shares during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Skeena Resources in the 4th quarter valued at about $43,000. 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.