Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 742,437 Skeena Resources Limited $SKE

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Skeena Resources Limited (NYSE:SKE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 742,437 shares of the company’s stock, valued at approximately $19,768,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.60% of Skeena Resources as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Van ECK Associates Corp grew its position in shares of Skeena Resources by 2.5% during the fourth quarter. Van ECK Associates Corp now owns 4,862,516 shares of the company’s stock valued at $115,427,000 after purchasing an additional 120,909 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Skeena Resources by 108.3% in the fourth quarter. Vanguard Group Inc. now owns 2,625,277 shares of the company’s stock worth $62,353,000 after buying an additional 1,364,835 shares in the last quarter. Amundi lifted its position in shares of Skeena Resources by 1.9% in the fourth quarter. Amundi now owns 2,536,138 shares of the company’s stock worth $60,183,000 after buying an additional 47,516 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Skeena Resources by 7.6% in the fourth quarter. Franklin Resources Inc. now owns 2,396,970 shares of the company’s stock worth $56,933,000 after buying an additional 168,932 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Skeena Resources by 44.6% during the fourth quarter. Millennium Management LLC now owns 2,202,510 shares of the company’s stock valued at $52,309,000 after buying an additional 679,709 shares during the last quarter. Institutional investors own 45.15% of the company’s stock.

Skeena Resources Stock Performance

Shares of NYSE:SKE opened at $35.09 on Wednesday. Skeena Resources Limited has a 52 week low of $15.38 and a 52 week high of $38.77. The stock has a market capitalization of $4.37 billion, a P/E ratio of -23.39 and a beta of 1.14. The firm has a fifty day simple moving average of $28.89 and a two-hundred day simple moving average of $30.36. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 5.66.

Skeena Resources (NYSE:SKE) last posted its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.10). On average, analysts expect that Skeena Resources Limited will post -1.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on SKE. Zacks Research upgraded Skeena Resources from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Wall Street Zen raised Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Skeena Resources presently has a consensus rating of “Moderate Buy”.

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.