The 22-year-old forward has 14 points (five goals, nine assists) in 17 games with the Coyotes since he was acquired in a trade with the Chicago Blackhawks for forwards Dylan Strome and Brendan Perlini on Nov. 25.
Schmaltz, a first-round pick (No. 20) of the Blackhawks in the 2014 NHL Draft, scored 21 goals last season and has 25 points (seven goals, 18 assists) in 40 NHL games this season.
"Nick came to us and was the dynamic, difference-making forward we had hoped he would be," general manager John Chayka told the Coyotes website. "He's a big loss for our team, but the injury provides more opportunity for our young players. The group has done an admirable job of filling in and competing hard every night."
The Coyotes (18-21-3) are seventh in the Pacific Division and six points behind the Minnesota Wild for the second wild card into the Stanley Cup Playoffs from the Western Conference. They have been slowed by injuries to Schmaltz, goalie Antti Raanta (lower body), defensemen Kevin Connauton (lower body) and Jason Demers (lower body), and forwards Christian Dvorak (upper body) and Michael Grabner (upper body).
Arizona, which ended a three-game losing streak with a 5-0 win against the New York Rangers on Sunday, plays the Vancouver Canucks at Rogers Arena on Thursday (10 p.m. ET; SNP, FS-A, NHL.TV).
