Scotiabank Decreases Earnings Estimates for Skeena Resources

Skeena Resources Limited (NYSE:SKE) – Stock analysts at Scotiabank dropped their FY2024 EPS estimates for shares of Skeena Resources in a note issued to investors 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 raised Skeena Resources to a “moderate buy” rating in a research note on Thursday, October 31st.

Skeena Resources Price Performance

Skeena Resources stock opened at $9.06 on Monday. Skeena Resources has a one year low of $3.29 and a one year high of $10.33. The company’s fifty day moving average price is $9.04 and its two-hundred day moving average price is $8.22. The company has a market capitalization of $974.58 million, a price-to-earnings ratio of -6.61 and a beta of 1.27.

Hedge Funds Weigh In On Skeena Resources

A number of institutional investors have recently made changes to their positions in SKE. Van ECK Associates Corp grew its holdings 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 third quarter worth $18,159,000. Goehring & Rozencwajg Associates LLC increased its position in Skeena Resources by 22.8% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,470,600 shares of the company’s stock worth $7,888,000 after acquiring an additional 273,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in Skeena Resources by 207.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,095,900 shares of the company’s stock valued at $9,309,000 after purchasing an additional 739,550 shares during the last quarter. Finally, Knoll Capital Management LLC boosted its holdings in Skeena Resources by 713.2% in the 3rd quarter. Knoll Capital Management LLC now owns 315,400 shares of the company’s stock valued at $2,668,000 after purchasing an additional 276,614 shares during the period. 45.15% of the stock is currently owned by institutional investors.

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.