Skeena Resources (NYSE:SKE) Stock Price Down 3.3% After Earnings Miss

Skeena Resources Limited (NYSE:SKE)’s share price fell 3.3% during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $11.14 and last traded at $11.17. 44,781 shares were traded during mid-day trading, a decline of 88% from the average session volume of 387,999 shares. The stock had previously closed at $11.55.

The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03).

Analysts Set New Price Targets

Separately, Raymond James reissued a “strong-buy” rating on shares of Skeena Resources in a research note on Friday, April 4th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Helikon Investments Ltd boosted 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 worth $120,246,000 after acquiring an additional 2,986,891 shares during the last quarter. Jupiter Asset Management Ltd. boosted its stake in Skeena Resources by 28.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company’s stock worth $16,293,000 after acquiring an additional 357,146 shares during the last quarter. Amundi boosted its stake in Skeena Resources by 29.2% during the 1st quarter. Amundi now owns 1,575,000 shares of the company’s stock worth $15,340,000 after acquiring an additional 355,700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Skeena Resources by 31.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company’s stock worth $15,370,000 after acquiring an additional 367,300 shares during the last quarter. Finally, TD Asset Management Inc lifted its stake in Skeena Resources by 28.9% in the first quarter. TD Asset Management Inc now owns 1,285,382 shares of the company’s stock valued at $12,959,000 after buying an additional 288,312 shares in the last quarter. Institutional investors own 45.15% of the company’s stock.

Skeena Resources Price Performance

The stock’s 50 day simple moving average is $11.00 and its two-hundred day simple moving average is $10.03. The stock has a market cap of $1.29 billion, a P/E ratio of -8.27 and a beta of 1.20.

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.