Scotiabank Lowers Earnings Estimates for Skeena Resources

Skeena Resources Limited (NYSE:SKE) – Stock analysts at Scotiabank dropped their FY2024 earnings per share (EPS) estimates for Skeena Resources in a research report issued on Wednesday, January 8th. Scotiabank analyst O. Habib now anticipates that the company will post earnings per share of ($1.16) for the year, down from their prior estimate of ($0.81). The consensus estimate for Skeena Resources’ current full-year earnings is ($0.80) per share. Scotiabank also issued estimates for Skeena Resources’ FY2025 earnings at ($0.41) EPS and FY2026 earnings at ($0.45) EPS.

Separately, Desjardins upgraded shares of Skeena Resources to a “moderate buy” rating in a research report on Thursday, October 31st.

Skeena Resources Stock Up 7.0 %

NYSE:SKE opened at $9.69 on Monday. Skeena Resources has a fifty-two week low of $3.29 and a fifty-two week high of $10.33. The firm’s fifty day simple moving average is $9.04 and its 200-day simple moving average is $8.22. The stock has a market cap of $1.04 billion, a PE ratio of -7.07 and a beta of 1.27.

Hedge Funds Weigh In On Skeena Resources

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC lifted its holdings in shares of Skeena Resources by 90.1% in the third quarter. Jane Street Group LLC now owns 138,453 shares of the company’s stock valued at $1,176,000 after purchasing an additional 65,627 shares in the last quarter. Goehring & Rozencwajg Associates LLC grew its holdings in Skeena Resources by 22.8% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,470,600 shares of the company’s stock valued at $7,888,000 after buying an additional 273,300 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Skeena Resources during the third quarter worth $547,000. Helikon Investments Ltd acquired a new position in shares of Skeena Resources in the third quarter worth $18,159,000. Finally, Knoll Capital Management LLC raised its holdings in shares of Skeena Resources by 713.2% in the third quarter. Knoll Capital Management LLC now owns 315,400 shares of the company’s stock worth $2,668,000 after acquiring an additional 276,614 shares during the last quarter. 45.15% of the stock is 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.