Skeena Resources (NYSE:SKE) Releases Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Skeena Resources (NYSE:SKE) announced its quarterly earnings results on Thursday. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10), Zacks reports.

Skeena Resources Stock Performance

Shares of SKE stock traded up $0.55 on Friday, hitting $33.35. The company’s stock had a trading volume of 252,237 shares, compared to its average volume of 857,839. The stock’s 50 day moving average is $27.85 and its 200-day moving average is $30.24. Skeena Resources has a fifty-two week low of $14.53 and a fifty-two week high of $38.77. The company has a market capitalization of $4.15 billion, a PE ratio of -22.15 and a beta of 1.14.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Skeena Resources from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Institutional Trading of Skeena Resources

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in shares of Skeena Resources during the fourth quarter worth approximately $43,000. PNC Financial Services Group Inc. boosted its stake in shares of Skeena Resources by 431.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after buying an additional 1,940 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Skeena Resources in the fourth quarter valued at approximately $45,000. Cubist Systematic Strategies LLC acquired a new stake in Skeena Resources during the first quarter worth approximately $89,000. Finally, Kestra Advisory Services LLC acquired a new stake in Skeena Resources during the fourth quarter worth approximately $98,000. Institutional investors own 45.15% of the company’s stock.

About Skeena Resources

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.