Van ECK Associates Corp grew its stake in shares of Skeena Resources Limited (NYSE:SKE – Free Report) by 99.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,017,001 shares of the company’s stock after acquiring an additional 4,501,723 shares during the period. Van ECK Associates Corp owned about 7.24% of Skeena Resources worth $240,403,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Skeena Resources by 849.9% during the 1st quarter. Royal Bank of Canada now owns 401,729 shares of the company’s stock worth $4,053,000 after purchasing an additional 359,438 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Skeena Resources in the 1st quarter worth $89,000. Goldman Sachs Group Inc. grew its position in shares of Skeena Resources by 174.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company’s stock worth $3,172,000 after buying an additional 199,654 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Skeena Resources by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock worth $719,000 after buying an additional 1,881 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Skeena Resources by 5.2% during the second quarter. Legal & General Group Plc now owns 81,489 shares of the company’s stock valued at $1,294,000 after buying an additional 4,037 shares during the period. Hedge funds and other institutional investors own 45.15% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on SKE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a report on Friday, July 17th. Zacks Research upgraded shares of Skeena Resources from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Wall Street Zen raised shares of Skeena Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.
Skeena Resources Trading Down 5.6%
Shares of NYSE SKE opened at $33.16 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 3.15 and a quick ratio of 3.15. The stock has a market capitalization of $4.13 billion, a P/E ratio of -22.11 and a beta of 1.14. Skeena Resources Limited has a 1-year low of $15.43 and a 1-year high of $38.77. The business has a fifty day moving average price of $29.20 and a 200 day moving average price of $30.45.
Skeena Resources (NYSE:SKE – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.10). Equities research analysts expect that Skeena Resources Limited will post -1.22 EPS for the current fiscal year.
Skeena Resources 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.
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