Skeena Resources (NYSE:SKE) Shares Gap Down - Here's Why

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s stock price gapped down before the market opened on Monday . The stock had previously closed at $9.19, but opened at $8.82. Skeena Resources shares last traded at $8.52, with a volume of 42,517 shares traded.

Wall Street Analysts Forecast Growth

Separately, Desjardins raised shares of Skeena Resources to a "moderate buy" rating in a research note on Thursday, October 31st.

Skeena Resources Stock Performance

The stock has a fifty day moving average price of $8.88 and a 200-day moving average price of $6.82. The firm has a market cap of $895.42 million, a PE ratio of -8.21 and a beta of 1.33.

Skeena Resources (NYSE:SKE - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.22). As a group, equities analysts predict that Skeena Resources Limited will post -0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Skeena Resources

Large investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in 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 valued at $9,309,000 after buying an additional 739,550 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Skeena Resources by 16.1% during the third 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 position in shares of Skeena Resources during the third quarter worth approximately $18,159,000. Pinnacle Wealth Management Group Inc. acquired a new stake in Skeena Resources in the 3rd quarter valued at approximately $110,000. Finally, Mackenzie Financial Corp acquired a new stake in Skeena Resources in the second quarter worth about $179,000. 45.15% of the stock is 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.

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