Skeena Resources (NYSE:SKE) Shares Down 2.9% - What's Next?

Skeena Resources Limited (NYSE:SKE - Get Free Report) was down 2.9% during mid-day trading on Friday . The company traded as low as $14.43 and last traded at $14.44. Approximately 92,986 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 391,532 shares. The stock had previously closed at $14.87.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. CIBC reiterated an "outperform" rating on shares of Skeena Resources in a research note on Thursday, May 22nd. Wall Street Zen downgraded Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, Raymond James reissued a "strong-buy" rating on shares of Skeena Resources in a report on Friday, April 4th.

Skeena Resources Stock Performance

The stock has a market capitalization of $1.64 billion, a PE ratio of -10.47 and a beta of 1.19. The company's fifty day simple moving average is $11.71 and its two-hundred day simple moving average is $10.43.

Skeena Resources (NYSE:SKE - Get Free Report) last released its earnings results on Thursday, May 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Sell-side analysts forecast that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SKE. Mackenzie Financial Corp boosted its holdings in shares of Skeena Resources by 4.3% in the 4th quarter. Mackenzie Financial Corp now owns 42,003 shares of the company's stock valued at $365,000 after buying an additional 1,742 shares during the period. Federation des caisses Desjardins du Quebec grew its holdings in shares of Skeena Resources by 1.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 275,745 shares of the company's stock valued at $2,761,000 after purchasing an additional 3,325 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Skeena Resources during the 4th quarter worth approximately $31,000. Pictet Asset Management Holding SA boosted its position in Skeena Resources by 30.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 16,523 shares of the company's stock valued at $144,000 after purchasing an additional 3,878 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Skeena Resources by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,480 shares of the company's stock valued at $597,000 after acquiring an additional 3,878 shares during the period. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.