Sprott Inc. Boosts Position in Skeena Resources Limited $SKE

Sprott Inc. grew its position in Skeena Resources Limited (NYSE:SKE) by 16.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,330,589 shares of the company’s stock after buying an additional 188,366 shares during the quarter. Sprott Inc.’s holdings in Skeena Resources were worth $24,517,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SKE. Geode Capital Management LLC grew its stake in Skeena Resources by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock valued at $719,000 after acquiring an additional 1,881 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Skeena Resources by 431.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after purchasing an additional 1,940 shares during the last quarter. Quantbot Technologies LP increased its stake in shares of Skeena Resources by 40.5% during the 2nd quarter. Quantbot Technologies LP now owns 13,077 shares of the company’s stock worth $208,000 after purchasing an additional 3,767 shares in the last quarter. Legal & General Group Plc raised its position in shares of Skeena Resources by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 81,489 shares of the company’s stock worth $1,294,000 after purchasing an additional 4,037 shares during the last quarter. Finally, Goehring & Rozencwajg Associates LLC lifted its stake in Skeena Resources by 0.5% in the 3rd quarter. Goehring & Rozencwajg Associates LLC now owns 874,822 shares of the company’s stock valued at $16,133,000 after buying an additional 4,669 shares in the last quarter. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

Skeena Resources Price Performance

SKE opened at $37.65 on Tuesday. Skeena Resources Limited has a 12 month low of $8.53 and a 12 month high of $38.77. The business has a 50-day moving average of $29.82 and a two-hundred day moving average of $22.46. The stock has a market capitalization of $4.57 billion, a price-to-earnings ratio of -51.58 and a beta of 1.22.

Analysts Set New Price Targets

Several equities analysts have weighed in on SKE shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research note on Monday, January 26th. Wall Street Zen upgraded Skeena Resources from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

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.