Y Intercept Hong Kong Ltd Makes New $1.43 Million Investment in Skeena Resources Limited $SKE

Y Intercept Hong Kong Ltd bought a new position in shares of Skeena Resources Limited (NYSE:SKE) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 89,579 shares of the company’s stock, valued at approximately $1,426,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Helikon Investments Ltd increased its holdings in Skeena Resources by 33.4% during the 1st quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company’s stock worth $120,246,000 after purchasing an additional 2,986,891 shares in the last quarter. Jupiter Asset Management Ltd. increased its holdings in Skeena Resources by 28.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company’s stock worth $16,293,000 after purchasing an additional 357,146 shares in the last quarter. Amundi increased its holdings in Skeena Resources by 29.2% during the 1st quarter. Amundi now owns 1,575,000 shares of the company’s stock worth $15,340,000 after purchasing an additional 355,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Skeena Resources by 31.8% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company’s stock worth $15,370,000 after purchasing an additional 367,300 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Skeena Resources by 28.9% during the 1st quarter. TD Asset Management Inc now owns 1,285,382 shares of the company’s stock worth $12,959,000 after purchasing an additional 288,312 shares in the last quarter. Institutional investors own 45.15% of the company’s stock.

Skeena Resources Stock Performance

Skeena Resources stock opened at $16.18 on Monday. Skeena Resources Limited has a 52 week low of $7.32 and a 52 week high of $20.77. The stock has a market capitalization of $1.96 billion, a P/E ratio of -14.84 and a beta of 1.27. The stock has a 50-day simple moving average of $17.61 and a 200 day simple moving average of $15.39.

Skeena Resources (NYSE:SKE) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.01). The company had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.90 million. Research analysts forecast that Skeena Resources Limited will post -0.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SKE shares. TD Securities started coverage on Skeena Resources in a report on Tuesday, August 12th. They set a “buy” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Skeena Resources in a report on Thursday, October 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, October 8th. Raymond James Financial restated a “strong-buy” rating on shares of Skeena Resources in a report on Friday, October 10th. Finally, Desjardins upgraded Skeena Resources to a “moderate buy” rating in a report on Wednesday, October 8th. 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, Skeena Resources has an average 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.