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

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

Skeena Resources Price Performance

NYSE:SKE traded down $0.40 during midday trading on Thursday, reaching $32.81. 433,987 shares of the company traded hands, compared to its average volume of 861,819. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of -21.73 and a beta of 1.14. The company has a fifty day moving average price of $27.79 and a 200 day moving average price of $30.23. Skeena Resources has a twelve month low of $14.53 and a twelve month high of $38.77.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Skeena Resources

A number of hedge funds have recently added to or reduced their stakes in SKE. Public Employees Retirement System of Ohio lifted its holdings in Skeena Resources by 6.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 17,240 shares of the company’s stock worth $410,000 after purchasing an additional 1,019 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Skeena Resources in the 4th quarter worth approximately $43,000. Geode Capital Management LLC lifted its stake in shares of Skeena Resources by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock worth $719,000 after acquiring an additional 1,881 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Skeena Resources in the fourth quarter valued at approximately $45,000. Finally, PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 1,940 shares in the last quarter. 45.15% of the stock is currently owned by institutional investors.

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.