Skeena Resources (NYSE:SKE) Announces Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Skeena Resources (NYSE:SKE) issued its quarterly earnings results on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03), Zacks reports.

Skeena Resources Stock Down 1.7%

Shares of NYSE SKE traded down $0.31 during trading hours on Friday, hitting $17.53. 575,773 shares of the stock were exchanged, compared to its average volume of 515,696. Skeena Resources has a 12 month low of $7.57 and a 12 month high of $20.77. The firm has a fifty day moving average price of $17.68 and a 200-day moving average price of $15.63. The company has a market cap of $2.12 billion, a PE ratio of -16.09 and a beta of 1.25.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SKE. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, October 8th. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research note on Wednesday, October 8th. Raymond James Financial reiterated a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Finally, TD Securities started coverage on shares of Skeena Resources in a report on Tuesday, August 12th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its holdings in shares of Skeena Resources by 4.3% in the second quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock worth $719,000 after buying an additional 1,881 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Skeena Resources by 431.1% during the third 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. Swiss National Bank boosted its position in Skeena Resources by 2.2% in the third quarter. Swiss National Bank now owns 145,900 shares of the company’s stock valued at $2,688,000 after buying an additional 3,200 shares during the last quarter. Quantbot Technologies LP boosted its position in Skeena Resources by 40.5% in the second quarter. Quantbot Technologies LP now owns 13,077 shares of the company’s stock valued at $208,000 after buying an additional 3,767 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Skeena Resources by 5.2% in the 2nd quarter. Legal & General Group Plc now owns 81,489 shares of the company’s stock worth $1,294,000 after buying an additional 4,037 shares during the period. 45.15% of the stock is currently owned by hedge funds and other 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.