Skeena Resources (NYSE:SKE) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Key Points

• Skeena Resources reported a quarterly loss of $0.21 per share, missing analysts’ consensus estimate of a $0.11 loss by $0.10.
• The stock fell 1.2% to $32.81 in midday trading, though it remains near the upper end of its 52-week range of $14.53 to $38.77.
• Analyst sentiment is mixed but leans positive, with the stock holding a “Moderate Buy” consensus rating; institutional investors and hedge funds own 45.15% of shares.

Skeena Resources (NYSE:SKE - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.10), Zacks reports.

Skeena Resources Trading Down 1.2%

Skeena Resources stock traded down $0.40 during midday trading on Thursday, hitting $32.81. 433,987 shares of the stock were exchanged, compared to its average volume of 861,819. The stock has a market capitalization of $4.08 billion, a price-to-earnings ratio of -21.73 and a beta of 1.14. The stock's 50-day simple moving average is $27.79 and its 200 day simple moving average is $30.23. Skeena Resources has a fifty-two week low of $14.53 and a fifty-two week high of $38.77.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Zacks Research upgraded shares of Skeena Resources from a "strong sell" rating to a "hold" rating in a report on Friday, July 31st. Weiss Ratings restated a "sell (d-)" rating on shares of Skeena Resources in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Skeena Resources during the fourth quarter worth $43,000. PNC Financial Services Group Inc. grew its holdings in shares of Skeena Resources by 431.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company's stock worth $44,000 after purchasing an additional 1,940 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Skeena Resources during the 4th quarter worth about $45,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Skeena Resources during the 1st quarter worth about $89,000. Finally, Kestra Advisory Services LLC purchased a new stake in Skeena Resources in the 4th quarter valued at about $98,000. 45.15% of the stock is currently owned by institutional investors and hedge funds.

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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