Skeena Resources (NYSE:SKE) Shares Gap Down - Time to Sell?

Key Points

• Skeena Resources shares fell sharply at the open, dropping from a prior close of $31.71 to $29.91 before recovering to around $30.53.
• Analyst sentiment is mixed but leans positive overall: the stock has a consensus “Moderate Buy” rating, despite some firms maintaining or upgrading it only to “Sell” or “Hold.”
• The company missed its latest quarterly earnings estimate, reporting a loss of $0.21 per share versus the expected loss of $0.11; analysts project a full-year loss of $1.29 per share.

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s stock price gapped down before the market opened on Monday. The stock had previously closed at $31.71, but opened at $29.91. Skeena Resources shares last traded at $30.5320, with a volume of 25,390 shares.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded Skeena Resources from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. Zacks Research upgraded Skeena Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Royal Bank Of Canada raised Skeena Resources to a "moderate buy" rating in a research note on Tuesday, September 15th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Skeena Resources in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Skeena Resources presently has an average rating of "Moderate Buy".

Skeena Resources Price Performance

The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of -20.09 and a beta of 1.16. The company has a fifty day simple moving average of $31.19 and a 200 day simple moving average of $30.05. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15.

Skeena Resources (NYSE:SKE - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.10). Equities research analysts forecast that Skeena Resources Limited will post -1.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its stake in shares of Skeena Resources by 41.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company's stock valued at $37,000 after purchasing an additional 455 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Skeena Resources during the second quarter worth $37,000. Caitong International Asset Management Co. Ltd bought a new position in Skeena Resources during the fourth quarter worth $161,000. Astoria Portfolio Advisors LLC. acquired a new position in Skeena Resources in the fourth quarter valued at $215,000. Finally, Leonteq Securities AG acquired a new position in Skeena Resources in the first quarter valued at $219,000. Institutional investors own 45.15% of the company's stock.

About Skeena Resources

Skeena Resources Limited is a Canadian mineral exploration and development company focused on advancing precious-metals projects in British Columbia's Golden Triangle. The company is not currently a producing mining company and is primarily engaged in exploration, project evaluation, permitting, engineering and mine-development activities.

Skeena's principal asset is the Eskay Creek gold-silver project, a past-producing mine that operated in northwestern British Columbia during the 1990s and 2000s.

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