Waratah Capital Advisors Ltd. Boosts Stake in Skeena Resources Limited $SKE

Waratah Capital Advisors Ltd. raised its position in Skeena Resources Limited (NYSE:SKE) by 114.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,227,900 shares of the company’s stock after purchasing an additional 656,471 shares during the quarter. Skeena Resources accounts for approximately 0.4% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 28th largest position. Waratah Capital Advisors Ltd. owned about 1.01% of Skeena Resources worth $22,630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SKE. Helikon Investments Ltd raised its holdings in shares of Skeena Resources by 20.3% in the 3rd quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock valued at $310,948,000 after buying an additional 2,841,708 shares during the period. Amundi increased its stake in Skeena Resources by 43.4% during the second quarter. Amundi now owns 2,258,524 shares of the company’s stock worth $35,640,000 after purchasing an additional 683,524 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Skeena Resources by 1.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,539,488 shares of the company’s stock worth $24,503,000 after purchasing an additional 15,450 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Skeena Resources by 48.9% in the third quarter. JPMorgan Chase & Co. now owns 1,467,864 shares of the company’s stock valued at $27,053,000 after purchasing an additional 482,369 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of Skeena Resources by 1,834.0% in the third quarter. Vanguard Group Inc. now owns 1,260,442 shares of the company’s stock valued at $23,212,000 after purchasing an additional 1,195,270 shares in the last quarter. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SKE has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. Wall Street Zen upgraded Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Scotiabank reiterated an “outperform” rating on shares of Skeena Resources in a report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Skeena Resources in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned 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”.

Skeena Resources Trading Up 1.2%

Skeena Resources stock opened at $36.05 on Wednesday. The stock has a market cap of $4.37 billion, a P/E ratio of -49.38 and a beta of 1.22. The company has a fifty day simple moving average of $28.73 and a 200-day simple moving average of $21.85. Skeena Resources Limited has a 12-month low of $8.53 and a 12-month high of $36.51.

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.