Skeena Resources (NYSE:SKE) Issues Earnings Results

Key Points

• Skeena Resources reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.03.
• The stock opened at $27.46 with a market capitalization of $3.33 billion and a negative P/E of -37.61; its 12‑month range is $8.53 to $38.77 and the 50/200‑day moving averages are $31.86 and $24.17, respectively.
• Analysts' consensus is a "Moderate Buy" (one Strong Buy, four Buy, one Sell), with recent notes including reiterated "outperform" ratings from Scotiabank and CIBC; institutional investors own about 45.15% of the shares.

Skeena Resources (NYSE:SKE - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03), Zacks reports.

Skeena Resources Price Performance

NYSE:SKE opened at $27.46 on Wednesday. The firm has a market capitalization of $3.33 billion, a P/E ratio of -37.61 and a beta of 1.17. The business has a 50 day simple moving average of $31.86 and a 200 day simple moving average of $24.17. Skeena Resources has a 12-month low of $8.53 and a 12-month high of $38.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SKE shares. Scotiabank restated 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. Wall Street Zen raised Skeena Resources from a "sell" rating to a "hold" rating in a report on Sunday, January 25th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Skeena Resources in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Institutional Investors Weigh In On Skeena Resources

A number of hedge funds have recently added to or reduced their stakes in SKE. Caitong International Asset Management Co. Ltd acquired a new position in shares of Skeena Resources during the fourth quarter valued at $43,000. PNC Financial Services Group Inc. lifted its position in 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 during the last quarter. Russell Investments Group Ltd. bought a new stake in Skeena Resources in the 4th quarter valued at about $45,000. Cubist Systematic Strategies LLC acquired a new position in Skeena Resources during the 1st quarter valued at about $89,000. Finally, Kestra Advisory Services LLC acquired a new position in Skeena Resources during the 4th quarter valued at about $98,000. 45.15% of the stock is currently owned by institutional investors.

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.

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