Scotiabank Reduces Earnings Estimates for Skeena Resources

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

Skeena Resources Stock Performance

Shares of Skeena Resources stock opened at $9.44 on Monday. Skeena Resources has a one year low of $3.29 and a one year high of $10.33. The company has a market cap of $1.02 billion, a P/E ratio of -6.89 and a beta of 1.27. The firm has a fifty day moving average of $9.05 and a two-hundred day moving average of $8.19.

Hedge Funds Weigh In On Skeena Resources

A number of institutional investors and hedge funds have recently made changes to their positions in SKE. Virtu Financial LLC acquired a new stake in shares of Skeena Resources in the 3rd quarter worth approximately $113,000. Barclays PLC boosted its position in Skeena Resources by 130.6% during the third quarter. Barclays PLC now owns 29,696 shares of the company’s stock worth $251,000 after purchasing an additional 16,819 shares in the last quarter. Geode Capital Management LLC acquired a new stake in Skeena Resources in the third quarter valued at $335,000. XTX Topco Ltd purchased a new position in shares of Skeena Resources in the third quarter valued at $215,000. Finally, National Bank of Canada FI raised its stake in shares of Skeena Resources by 356.4% during the 3rd quarter. National Bank of Canada FI now owns 51,922 shares of the company’s stock worth $439,000 after buying an additional 40,546 shares during the last quarter. 45.15% of the stock is owned by institutional investors and hedge funds.

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.