Investors Buy Large Volume of Skeena Resources Call Options (NYSE:SKE)

Skeena Resources Limited (NYSE:SKE) was the recipient of unusually large options trading activity on Tuesday. Traders bought 3,545 call options on the company. This represents an increase of 265% compared to the average volume of 971 call options.

Skeena Resources Trading Up 8.3%

Shares of NYSE:SKE opened at $29.16 on Wednesday. The company has a market capitalization of $3.53 billion, a PE ratio of -39.95 and a beta of 1.22. Skeena Resources has a 12-month low of $8.53 and a 12-month high of $29.23. The business’s fifty day simple moving average is $22.88 and its 200-day simple moving average is $18.90.

Skeena Resources (NYSE:SKE) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Research analysts predict that Skeena Resources will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SKE. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research report on Wednesday, October 8th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Skeena Resources in a research note on Friday, October 10th. Wall Street Zen lowered Skeena Resources from a “hold” rating to a “sell” rating in a report on Saturday. Scotiabank restated an “outperform” rating on shares of Skeena Resources in a report on Thursday, October 23rd. Finally, Desjardins raised Skeena Resources to a “moderate buy” rating in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in Skeena Resources by 849.9% in the first quarter. Royal Bank of Canada now owns 401,729 shares of the company’s stock worth $4,053,000 after acquiring an additional 359,438 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Skeena Resources in the 1st quarter worth approximately $89,000. Goldman Sachs Group Inc. boosted its stake in Skeena Resources by 174.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company’s stock worth $3,172,000 after purchasing an additional 199,654 shares in the last quarter. Fortitude Advisory Group L.L.C. acquired a new stake in Skeena Resources in the 2nd quarter worth approximately $194,000. Finally, Allspring Global Investments Holdings LLC grew its position in Skeena Resources by 26.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 607,000 shares of the company’s stock worth $9,661,000 after purchasing an additional 128,500 shares during the last quarter. Hedge funds and other institutional investors own 45.15% of the company’s stock.

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.