Connor Clark & Lunn Investment Management Ltd. Makes New $19.77 Million Investment in Skeena Resources Limited $SKE

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Skeena Resources Limited (NYSE:SKE) during the second quarter, Holdings Channel.com reports. The firm acquired 742,437 shares of the company’s stock, valued at approximately $19,768,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of Skeena Resources by 41.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company’s stock worth $37,000 after acquiring an additional 455 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Skeena Resources during the 4th quarter worth about $43,000. PNC Financial Services Group Inc. grew its holdings in Skeena Resources by 431.1% during the 3rd 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. Russell Investments Group Ltd. bought a new position in Skeena Resources during the 4th quarter valued at about $45,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Skeena Resources in the 1st quarter worth about $89,000. Hedge funds and other institutional investors own 45.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SKE. Weiss Ratings reissued a “sell (d-)” rating on shares of Skeena Resources in a research note on Friday, July 17th. Wall Street Zen raised Skeena Resources from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. Finally, Zacks Research raised Skeena Resources from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Performance

SKE stock opened at $35.09 on Wednesday. Skeena Resources Limited has a twelve month low of $15.38 and a twelve month high of $38.77. The firm has a market cap of $4.37 billion, a price-to-earnings ratio of -23.39 and a beta of 1.14. The business’s fifty day simple moving average is $28.89 and its two-hundred day simple moving average is $30.36. 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 (NYSE:SKE) last issued its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (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 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.