Research Analysts Set Expectations for SKE FY2024 Earnings

Skeena Resources Limited (NYSE:SKE) – Analysts at Scotiabank lowered their FY2024 earnings per share estimates for Skeena Resources in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst O. Habib now expects that the company will post earnings per share of ($1.16) for the year, down from their previous 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 Skeena Resources to a “moderate buy” rating in a research note on Thursday, October 31st.

Skeena Resources Stock Performance

Skeena Resources stock opened at $9.69 on Monday. The stock has a 50-day simple moving average of $9.04 and a 200-day simple moving average of $8.22. The company has a market capitalization of $1.04 billion, a P/E ratio of -7.07 and a beta of 1.27. Skeena Resources has a fifty-two week low of $3.29 and a fifty-two week high of $10.33.

Institutional Investors Weigh In On Skeena Resources

Several hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in Skeena Resources by 16.1% in the 3rd quarter. Van ECK Associates Corp now owns 5,012,498 shares of the company’s stock valued at $42,406,000 after buying an additional 693,745 shares during the last quarter. Helikon Investments Ltd acquired a new stake in shares of Skeena Resources in the 3rd quarter worth $18,159,000. Goehring & Rozencwajg Associates LLC boosted its holdings in shares of Skeena Resources by 22.8% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,470,600 shares of the company’s stock valued at $7,888,000 after acquiring an additional 273,300 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Skeena Resources by 207.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,095,900 shares of the company’s stock worth $9,309,000 after acquiring an additional 739,550 shares during the period. Finally, Knoll Capital Management LLC raised its holdings in Skeena Resources by 713.2% during the third quarter. Knoll Capital Management LLC now owns 315,400 shares of the company’s stock worth $2,668,000 after purchasing an additional 276,614 shares in the last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.

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.