Skeena Resources (NYSE:SKE) Issues Quarterly Earnings Results, Misses Expectations 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) issued its quarterly earnings results on Thursday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01), Zacks reports.

Skeena Resources Stock Down 3.3%

Shares of Skeena Resources stock traded down $0.52 during trading hours on Friday, reaching $15.12. 277,679 shares of the company's stock were exchanged, compared to its average volume of 414,802. Skeena Resources has a 1 year low of $7.22 and a 1 year high of $17.25. The company has a market capitalization of $1.74 billion, a P/E ratio of -13.15 and a beta of 1.24. The business has a fifty day moving average of $15.39 and a two-hundred day moving average of $12.54.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. TD Securities assumed coverage on shares of Skeena Resources in a report on Tuesday. They issued a "buy" rating for the company. Wall Street Zen lowered shares of Skeena Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, CIBC reissued an "outperform" rating on shares of Skeena Resources in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

Institutional Investors Weigh In On Skeena Resources

A number of large investors have recently modified their holdings of SKE. Royal Bank of Canada lifted its position in shares of Skeena Resources by 849.9% during the first quarter. Royal Bank of Canada now owns 401,729 shares of the company's stock worth $4,053,000 after purchasing an additional 359,438 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Skeena Resources by 174.0% during the first quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company's stock worth $3,172,000 after purchasing an additional 199,654 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Skeena Resources during the second quarter worth about $4,753,000. Legal & General Group Plc lifted its position in shares of Skeena Resources by 5.2% during the second quarter. Legal & General Group Plc now owns 81,489 shares of the company's stock worth $1,294,000 after purchasing an additional 4,037 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Skeena Resources by 88.1% during the second quarter. BNP Paribas Financial Markets now owns 78,200 shares of the company's stock worth $1,245,000 after purchasing an additional 36,633 shares in the last quarter. 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.

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