Traders Buy Large Volume of Skeena Resources Call Options (NYSE:SKE)

Skeena Resources Limited (NYSE:SKE) was the target of unusually large options trading on Tuesday. Stock traders bought 3,545 call options on the stock. This is an increase of 265% compared to the typical daily volume of 971 call options.

Institutional Investors Weigh In On Skeena Resources

Several large investors have recently bought and sold shares of the business. 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 valued at $719,000 after purchasing an additional 1,881 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Skeena Resources by 431.1% during the 3rd 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 during the period. Swiss National Bank grew its position in Skeena Resources by 2.2% in the 3rd quarter. Swiss National Bank now owns 145,900 shares of the company’s stock valued at $2,688,000 after acquiring an additional 3,200 shares during the last quarter. Quantbot Technologies LP increased its stake in Skeena Resources by 40.5% in the second quarter. Quantbot Technologies LP now owns 13,077 shares of the company’s stock worth $208,000 after purchasing an additional 3,767 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Skeena Resources by 5.2% during the second quarter. Legal & General Group Plc now owns 81,489 shares of the company’s stock worth $1,294,000 after purchasing an additional 4,037 shares during the last quarter. Institutional investors own 45.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SKE shares. Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research report on Thursday, October 23rd. Wall Street Zen downgraded shares of Skeena Resources from a “hold” rating to a “sell” rating in a research report on Saturday. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, October 8th. Finally, Desjardins raised Skeena Resources to a “moderate buy” rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Skeena Resources Stock Performance

Shares of NYSE SKE traded up $1.85 during trading on Tuesday, hitting $28.78. The company had a trading volume of 988,695 shares, compared to its average volume of 688,246. The firm has a market capitalization of $3.48 billion, a P/E ratio of -39.42 and a beta of 1.22. Skeena Resources has a 12 month low of $8.53 and a 12 month high of $28.98. The stock has a 50 day simple moving average of $22.65 and a 200 day simple moving average of $18.81.

Skeena Resources (NYSE:SKE) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). As a group, analysts predict that Skeena Resources will post -0.98 EPS for the current year.

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.