Skeena Resources Limited $SKE Stock Holdings Lifted by Bornite Capital Management LP

Bornite Capital Management LP grew its stake in Skeena Resources Limited (NYSE:SKE) by 23.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,620,600 shares of the company’s stock after purchasing an additional 307,600 shares during the period. Skeena Resources makes up approximately 5.4% of Bornite Capital Management LP’s portfolio, making the stock its 9th biggest holding. Bornite Capital Management LP owned about 1.30% of Skeena Resources worth $43,152,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Skeena Resources by 41.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company’s stock worth $37,000 after purchasing an additional 455 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Skeena Resources in the 4th quarter valued at $43,000. Russell Investments Group Ltd. acquired a new position in Skeena Resources in the 4th quarter valued at $45,000. PNC Financial Services Group Inc. increased its stake in Skeena Resources by 431.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after buying an additional 1,940 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in Skeena Resources during the 4th quarter worth $98,000. Hedge funds and other institutional investors own 45.15% of the company’s stock.

Analysts Set New Price Targets

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

Skeena Resources Stock Down 7.3%

Shares of NYSE SKE opened at $30.25 on Wednesday. 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 Limited has a 52 week low of $15.43 and a 52 week high of $38.77. The firm has a 50-day moving average price of $29.37 and a 200 day moving average price of $30.39. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -20.17 and a beta of 1.16.

Skeena Resources (NYSE:SKE) last issued its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.10). Equities research analysts anticipate that Skeena Resources Limited will post -1.22 EPS for the current fiscal year.

Skeena Resources Company 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.