Tidal Investments LLC Acquires 42,436 Shares of Skeena Resources Limited $SKE

Tidal Investments LLC lifted its stake in shares of Skeena Resources Limited (NYSE:SKE) by 67.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,707 shares of the company’s stock after purchasing an additional 42,436 shares during the quarter. Tidal Investments LLC’s holdings in Skeena Resources were worth $2,818,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Engineers Gate Manager LP acquired a new position in shares of Skeena Resources during the second quarter worth $271,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Skeena Resources during the 2nd quarter valued at $37,000. Groupe la Francaise grew its position in Skeena Resources by 1.1% during the 2nd quarter. Groupe la Francaise now owns 455,000 shares of the company’s stock worth $12,132,000 after acquiring an additional 5,000 shares during the last quarter. Bornite Capital Management LP grew its position in Skeena Resources by 23.4% during the 2nd quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company’s stock worth $43,152,000 after acquiring an additional 307,600 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC bought a new stake in Skeena Resources during the 2nd quarter worth $1,496,000. Institutional investors own 45.15% of the company’s stock.

Wall Street Analysts Forecast Growth

SKE has been the subject of several research reports. Wall Street Zen upgraded Skeena Resources from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a report on Friday, July 17th. Finally, Zacks Research raised Skeena Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Skeena Resources has an average rating of “Moderate Buy”.

Skeena Resources Stock Up 0.2%

Shares of NYSE:SKE opened at $30.64 on Wednesday. The firm has a market cap of $3.84 billion, a P/E ratio of -20.42 and a beta of 1.16. 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 12-month low of $15.43 and a 12-month high of $38.77. The business has a fifty day simple moving average of $30.36 and a 200 day simple moving average of $30.26.

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

Skeena Resources Company Profile

Skeena Resources Limited is a Canadian mineral exploration and development company focused on advancing precious-metals projects in British Columbia’s Golden Triangle. The company is not currently a producing mining company and is primarily engaged in exploration, project evaluation, permitting, engineering and mine-development activities.

Skeena’s principal asset is the Eskay Creek gold-silver project, a past-producing mine that operated in northwestern British Columbia during the 1990s and 2000s.