Investors Purchase High Volume of Call Options on Skeena Resources (NYSE:SKE)

Skeena Resources Limited (NYSE:SKE) saw unusually large options trading activity on Tuesday. Investors bought 5,823 call options on the company. This represents an increase of approximately 638% compared to the average daily volume of 789 call options.

Skeena Resources Trading Down 1.1%

Shares of SKE opened at $20.74 on Thursday. Skeena Resources has a twelve month low of $8.53 and a twelve month high of $21.80. The firm has a market capitalization of $2.51 billion, a P/E ratio of -28.41 and a beta of 1.23. The firm’s 50-day moving average is $18.04 and its two-hundred day moving average is $16.37.

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

Hedge Funds Weigh In On Skeena Resources

Several hedge funds and other institutional investors have recently bought and sold shares of SKE. Goldman Sachs Group Inc. increased its position in shares of Skeena Resources by 174.0% in the first quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company’s stock valued at $3,172,000 after buying an additional 199,654 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Skeena Resources in the 1st quarter worth about $359,000. Deutsche Bank AG grew its stake in Skeena Resources by 49.4% in the 1st quarter. Deutsche Bank AG now owns 221,443 shares of the company’s stock valued at $2,234,000 after acquiring an additional 73,215 shares during the last quarter. Medici Capital LLC purchased a new position in Skeena Resources during the 2nd quarter valued at about $1,934,000. Finally, Nuveen LLC purchased a new position in Skeena Resources during the 1st quarter valued at about $717,000. 45.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SKE shares. TD Securities started coverage on shares of Skeena Resources in a report on Tuesday, August 12th. They issued a “buy” rating on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research report on Wednesday, October 8th. Wall Street Zen raised Skeena Resources from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

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.