Skeena Resources (NYSE:SKE) Shares Gap Down - Here's Why

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $12.55, but opened at $12.00. Skeena Resources shares last traded at $11.50, with a volume of 68,304 shares.

Analyst Upgrades and Downgrades

Separately, Raymond James reaffirmed a "strong-buy" rating on shares of Skeena Resources in a report on Friday, April 4th.

Skeena Resources Stock Performance

The firm has a market cap of $1.29 billion, a PE ratio of -8.27 and a beta of 1.20. The stock's 50 day simple moving average is $11.00 and its 200 day simple moving average is $10.03.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its quarterly earnings data 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). As a group, analysts anticipate that Skeena Resources Limited will post -0.98 earnings per share for the current year.

Institutional Investors Weigh In On Skeena Resources

A number of institutional investors have recently made changes to their positions in SKE. Goldman Sachs Group Inc. raised its holdings in Skeena Resources by 174.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company's stock valued at $3,172,000 after buying an additional 199,654 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Skeena Resources during the 1st quarter valued at $359,000. Amundi raised its holdings in Skeena Resources by 29.2% during the 1st quarter. Amundi now owns 1,575,000 shares of the company's stock valued at $15,340,000 after buying an additional 355,700 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in Skeena Resources by 1.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 275,745 shares of the company's stock valued at $2,761,000 after buying an additional 3,325 shares during the last quarter. Finally, PDT Partners LLC raised its holdings in Skeena Resources by 28.8% during the 1st quarter. PDT Partners LLC now owns 22,493 shares of the company's stock valued at $227,000 after buying an additional 5,023 shares during the last quarter. Hedge funds and other institutional investors own 45.15% of the company's stock.

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.