Skeena Resources (NYSE:SKE) Shares Gap Up – Here’s Why

Skeena Resources Limited (NYSE:SKE) gapped up before the market opened on Tuesday . The stock had previously closed at $29.16, but opened at $31.51. Skeena Resources shares last traded at $30.8080, with a volume of 135,840 shares traded.

Wall Street Analyst Weigh In

Several analysts recently commented on SKE shares. Wall Street Zen raised Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. Desjardins raised Skeena Resources to a “moderate buy” rating in a research note on Wednesday, October 8th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Skeena Resources has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Performance

The firm has a market cap of $3.63 billion, a price-to-earnings ratio of -41.30 and a beta of 1.22. The stock has a 50-day moving average of $25.27 and a 200-day moving average of $19.87.

Skeena Resources (NYSE:SKE) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Sell-side analysts predict that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

Hedge Funds Weigh In On Skeena Resources

A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its holdings in Skeena Resources by 431.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock worth $44,000 after acquiring an additional 1,940 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Skeena Resources during the 4th quarter worth approximately $119,000. Advisory Services Network LLC acquired a new position in shares of Skeena Resources during the 3rd quarter worth approximately $99,000. Cubist Systematic Strategies LLC bought a new stake in shares of Skeena Resources during the 1st quarter worth approximately $89,000. Finally, Georgetown University acquired a new stake in shares of Skeena Resources in the 4th quarter valued at approximately $226,000. 45.15% of the stock is currently owned by institutional investors and hedge funds.

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.