400,000 Shares in Skeena Resources Limited $SKE Bought by Forge First Asset Management Inc.

Forge First Asset Management Inc. purchased a new stake in Skeena Resources Limited (NYSE:SKE) in the third quarter, HoldingsChannel reports. The firm purchased 400,000 shares of the company’s stock, valued at approximately $7,370,000. Skeena Resources comprises about 3.4% of Forge First Asset Management Inc.’s portfolio, making the stock its 11th largest position.

Several other hedge funds have also added to or reduced their stakes in SKE. Helikon Investments Ltd raised its position in shares of Skeena Resources by 20.3% during the third quarter. Helikon Investments Ltd now owns 16,871,819 shares of the company’s stock worth $310,948,000 after purchasing an additional 2,841,708 shares during the period. Amundi boosted its position in Skeena Resources by 43.4% during the 2nd quarter. Amundi now owns 2,258,524 shares of the company’s stock worth $35,640,000 after acquiring an additional 683,524 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Skeena Resources by 1.0% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,539,488 shares of the company’s stock worth $24,503,000 after acquiring an additional 15,450 shares during the last quarter. TD Asset Management Inc grew its stake in shares of Skeena Resources by 16.3% during the 3rd quarter. TD Asset Management Inc now owns 1,484,909 shares of the company’s stock worth $27,352,000 after acquiring an additional 208,095 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings 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 last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Skeena Resources from a “sell” rating to a “hold” rating in a report on Sunday, January 25th. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a research report on Monday, January 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday, January 21st. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. One 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. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Skeena Resources Stock Performance

Shares of SKE stock opened at $37.44 on Friday. The firm’s 50-day moving average is $29.27 and its 200-day moving average is $22.06. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -51.29 and a beta of 1.22. Skeena Resources Limited has a 52-week low of $8.53 and a 52-week high of $37.53.

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.