Skeena Resources (NYSE:SKE) Stock Price Down 5.8% - What's Next?

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s share price traded down 5.8% during mid-day trading on Tuesday . The stock traded as low as $15.33 and last traded at $15.19. 81,292 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 396,654 shares. The stock had previously closed at $16.12.

Wall Street Analysts Forecast Growth

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

Skeena Resources Trading Down 4.7%

The company has a market capitalization of $1.76 billion, a P/E ratio of -13.36 and a beta of 1.26. The firm's 50 day moving average price is $13.64 and its two-hundred day moving average price is $11.38.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Medici Capital LLC bought a new position in shares of Skeena Resources in the 2nd quarter valued at about $1,934,000. Goldman Sachs Group Inc. grew its holdings in 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 during the period. Dynamic Technology Lab Private Ltd bought a new position in Skeena Resources during the first quarter worth about $359,000. Amundi grew its holdings in Skeena Resources by 29.2% during the first quarter. Amundi now owns 1,575,000 shares of the company's stock worth $15,340,000 after purchasing an additional 355,700 shares during the period. Finally, Federation des caisses Desjardins du Quebec grew its holdings in 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 worth $2,761,000 after purchasing an additional 3,325 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.