Skeena Resources Limited $SKE Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in shares of Skeena Resources Limited (NYSE:SKE) by 99.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,017,001 shares of the company’s stock after purchasing an additional 4,501,723 shares during the period. Van ECK Associates Corp owned about 0.07% of Skeena Resources worth $240,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Grand Central Investment Group boosted its holdings in Skeena Resources by 2.9% in the first quarter. Grand Central Investment Group now owns 12,958 shares of the company’s stock worth $385,000 after acquiring an additional 364 shares in the last quarter. Rockefeller Capital Management L.P. increased 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 valued at $37,000 after acquiring an additional 455 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Skeena Resources by 5.1% in the 1st quarter. Pictet Asset Management Holding SA now owns 16,047 shares of the company’s stock valued at $476,000 after purchasing an additional 776 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Skeena Resources by 6.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 17,240 shares of the company’s stock worth $410,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Skeena Resources in the 4th quarter worth approximately $43,000. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

Skeena Resources Stock Performance

Shares of NYSE SKE opened at $33.16 on Friday. The company has a 50 day simple moving average of $29.20 and a two-hundred day simple moving average of $30.45. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of -22.11 and a beta of 1.14. The company has a current ratio of 3.15, a quick 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.

Skeena Resources (NYSE:SKE) last released its quarterly earnings data 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). As a group, analysts predict that Skeena Resources Limited will post -1.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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 raised shares of Skeena Resources from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a research note 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 issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

About Skeena Resources

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.