Skeena Resources (NYSE:SKE) Announces Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Skeena Resources reported a quarterly earnings per share (EPS) of (-0.03), falling short of the consensus estimate of (-0.02) by $0.01.
• Following the earnings report, Skeena Resources stock fell 3.3%, closing at $15.12 despite a market capitalization of $1.74 billion.
• Recent analyst ratings on Skeena Resources have been mixed, with one upgrade to "buy", a downgrade to "sell", and a consensus rating of "Moderate Buy".

Skeena Resources (NYSE:SKE - Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01), Zacks reports. The firm had revenue of $1.90 million during the quarter, compared to analysts' expectations of $1.90 million.

Skeena Resources Stock Up 2.9%

Shares of SKE traded up $0.4260 during trading hours on Wednesday, reaching $15.2060. 383,714 shares of the company traded hands, compared to its average volume of 467,233. Skeena Resources has a 12 month low of $7.22 and a 12 month high of $17.25. The company's fifty day moving average price is $15.46 and its two-hundred day moving average price is $12.68. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of -13.95 and a beta of 1.24.

Institutional Trading of Skeena Resources

Large investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in shares of Skeena Resources during the 1st quarter worth approximately $89,000. XTX Topco Ltd bought a new stake in shares of Skeena Resources during the second quarter valued at approximately $191,000. Quantbot Technologies LP grew its stake in Skeena Resources by 40.5% in the second quarter. Quantbot Technologies LP now owns 13,077 shares of the company's stock worth $208,000 after purchasing an additional 3,767 shares during the period. Vident Advisory LLC bought a new position in Skeena Resources in the second quarter worth $539,000. Finally, Tidal Investments LLC raised its holdings in Skeena Resources by 44.5% in the second quarter. Tidal Investments LLC now owns 37,897 shares of the company's stock worth $603,000 after purchasing an additional 11,672 shares in the last quarter. 45.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SKE has been the subject of several analyst reports. CIBC reissued an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. TD Securities assumed coverage on shares of Skeena Resources in a research note on Tuesday, August 12th. They set a "buy" rating for the company. Finally, Wall Street Zen cut Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat, Skeena Resources currently has a consensus rating of "Buy".

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.