Skeena Resources (NYSE:SKE) Stock Price Down 5.3% - What's Next?

Key Points

• Skeena Resources stock fell 5.3% to $17.79 with trading volume significantly down by 72% compared to its average.
• The latest analyst ratings include a "buy" from TD Securities, an upgraded "moderate buy" from Desjardins, and a "sell" from Weiss Ratings, indicating a mixed sentiment with a consensus rating of "Moderate Buy."
• The company reported a quarterly loss with earnings per share of ($0.03), missing expectations slightly, while revenue met forecasts at $1.90 million.

Skeena Resources Limited (NYSE:SKE - Get Free Report) fell 5.3% on Thursday . The stock traded as low as $18.06 and last traded at $17.79. 131,655 shares changed hands during trading, a decline of 72% from the average session volume of 477,613 shares. The stock had previously closed at $18.78.

Analyst Ratings Changes

Several brokerages have recently weighed in on SKE. TD Securities began coverage on shares of Skeena Resources in a report on Tuesday, August 12th. They set a "buy" rating on the stock. Desjardins upgraded shares of Skeena Resources to a "moderate buy" rating in a report on Wednesday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Skeena Resources in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Skeena Resources currently has a consensus rating of "Moderate Buy".

Skeena Resources Stock Performance

The stock has a 50-day simple moving average of $16.77 and a 200-day simple moving average of $14.39.

Skeena Resources (NYSE:SKE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $1.90 million during the quarter, compared to analysts' expectations of $1.90 million. As a group, equities research analysts forecast that Skeena Resources Limited will post -0.98 EPS for the current year.

Institutional Investors Weigh In On Skeena Resources

A number of hedge funds have recently bought and sold shares of SKE. Helikon Investments Ltd grew its stake in Skeena Resources by 33.4% during the 1st quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock valued at $120,246,000 after purchasing an additional 2,986,891 shares in the last quarter. Bornite Capital Management LP acquired a new stake in Skeena Resources during the 1st quarter valued at approximately $9,581,000. Amundi grew its stake in Skeena Resources by 43.4% during the 2nd quarter. Amundi now owns 2,258,524 shares of the company's stock valued at $35,640,000 after purchasing an additional 683,524 shares in the last quarter. Waratah Capital Advisors Ltd. acquired a new stake in Skeena Resources during the second quarter valued at approximately $9,097,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Skeena Resources by 31.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock valued at $15,370,000 after buying an additional 367,300 shares in the last quarter. Institutional investors and hedge funds 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.

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