Skeena Resources (TSE:SKE) Releases Quarterly Earnings Results

Skeena Resources (TSE:SKE) posted its earnings results on Friday. The company reported C($0.86) earnings per share (EPS) for the quarter, FiscalAI reports.

Skeena Resources Stock Down 8.6%

Shares of Skeena Resources stock traded down C$4.03 on Friday, reaching C$42.59. 800,009 shares of the company were exchanged, compared to its average volume of 438,287. Skeena Resources has a one year low of C$15.38 and a one year high of C$53.00. The company has a market capitalization of C$5.18 billion, a price-to-earnings ratio of -26.79 and a beta of 2.62. The company has a current ratio of 1.82, a quick ratio of 1.55 and a debt-to-equity ratio of 39.64. The company has a 50-day moving average of C$42.75 and a 200 day moving average of C$37.71.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. BMO Capital Markets upped their price objective on shares of Skeena Resources from C$45.00 to C$50.00 in a research report on Wednesday, April 1st. Scotiabank boosted their price objective on Skeena Resources from C$25.00 to C$44.00 in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce boosted their price objective on Skeena Resources from C$44.00 to C$58.00 in a research report on Wednesday, February 4th. TD Securities boosted their price objective on Skeena Resources from C$35.00 to C$49.00 in a research report on Thursday, January 22nd. Finally, Canaccord Genuity Group boosted their price objective on Skeena Resources from C$40.00 to C$52.00 in a research report on Wednesday, April 1st. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$47.43.

Insider Buying and Selling

In related news, Director Jr. Walter Coles acquired 1,531 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were bought at an average price of C$44.73 per share, for a total transaction of C$68,481.63. Following the purchase, the director directly owned 2,286,073 shares in the company, valued at approximately C$102,256,045.29. This trade represents a 0.07% increase in their position. Also, insider Robert Jalun Kiesman sold 1,400 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of C$39.72, for a total value of C$55,608.00. Following the sale, the insider owned 2,009 shares in the company, valued at approximately C$79,797.48. This represents a 41.07% decrease in their position. In the last quarter, insiders have sold 85,190 shares of company stock worth $3,701,636. 1.51% of the stock is currently owned by company insiders.

Skeena Resources Company Profile

Skeena Resources Ltd is a Canadian mining exploration company focused on developing prospective precious and base metal properties in the Golden Triangle of northwest British Columbia, Canada. The company’s primary activity is the exploration and development of the past-producing Eskay Creek mine acquired from Barrick.