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

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

Skeena Resources Stock Down 2.3%

Skeena Resources stock opened at $28.46 on Thursday. Skeena Resources has a 52 week low of $8.53 and a 52 week high of $29.97. The stock has a 50-day moving average price of $23.09 and a 200 day moving average price of $18.97. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of -38.98 and a beta of 1.22.

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). Research analysts anticipate that Skeena Resources will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a research report on Wednesday, October 8th. Raymond James Financial restated a “strong-buy” rating on shares of Skeena Resources in a research note on Friday, October 10th. Wall Street Zen downgraded Skeena Resources from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Scotiabank reiterated an “outperform” rating on shares of Skeena Resources in a report on Thursday, October 23rd. Finally, Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research note 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Skeena Resources

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of Skeena Resources by 431.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after buying an additional 1,940 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Skeena Resources during the third quarter worth about $99,000. Cubist Systematic Strategies LLC purchased a new position in Skeena Resources during the first quarter valued at approximately $89,000. Jain Global LLC acquired a new position in Skeena Resources in the third quarter valued at approximately $189,000. Finally, Cutler Capital Management LLC purchased a new stake in Skeena Resources in the 2nd quarter worth approximately $167,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

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.