Skeena Resources stock falls 5.41 percent as Eskay funding advances

Skeena Resources stock fell 5.41 percent to USD 31.46 on the NYSE on September 23, 2026 at 2:58 p.m. ET, putting the company's market capitalization at USD 3,903,694,752. The move came as investors weighed financing progress against the execution demands of the Eskay Creek project.

Eskay Creek funding reaches USD 750 million

Simply Wall St reported on September 10, 2026 that Skeena secured US$750 million in senior secured notes to finance reconstruction of the Eskay Creek gold and silver operation. The project was 49 percent complete, with first production targeted for Q2 2027.

The financing changes the central investor question from near term capital sourcing to construction execution, cost control and the timing of the production ramp. That interpretation matters because the project remains the company's principal route from development stage mining to operating revenue.

Q2 loss narrows from Q1

Skeena posted a net loss of USD 35,220,000 in Q2 2026, compared with a loss of USD 104,457,000 in Q1 2026. Diluted loss per share improved to USD 0.28 from USD 0.86 over the same quarter to quarter comparison, although the company remained pre revenue in the reported periods.

Cash and cash equivalents stood at USD 134,808,000 on June 30, 2026, versus USD 25,551,000 on March 31, 2026. The balance increase provides a numerical measure of the financing impact, while operating cash flow remained negative at USD 15,057,000 in Q2 2026.

RBC sets a C$64 target

According to MarketBeat on September 17, 2026, Royal Bank of Canada upgraded Skeena to Moderate Buy. A separate September 15 report cited a C$64.00 price target and an Outperform rating, giving the market a defined benchmark as construction advances.

Stock remains below yearly high

Skeena Resources stock stood at USD 31.46 on the NYSE on September 23, 2026 at 2:58 p.m. ET. The price was 18.86 percent below its 52-week high of USD 38.77 and above its 52-week low of USD 15.43, leaving project delivery as the key numerical test for the valuation.