Skeena Resources Limited $SKE Position Reduced by Ruffer LLP

Ruffer LLP reduced its position in Skeena Resources Limited (NYSE:SKE) by 16.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,270,055 shares of the company’s stock after selling 241,600 shares during the quarter. Skeena Resources makes up about 1.3% of Ruffer LLP’s holdings, making the stock its 25th largest holding. Ruffer LLP’s holdings in Skeena Resources were worth $23,394,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SKE. Royal Bank of Canada boosted its stake in Skeena Resources by 849.9% in the 1st quarter. Royal Bank of Canada now owns 401,729 shares of the company’s stock worth $4,053,000 after purchasing an additional 359,438 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Skeena Resources in the 1st quarter worth about $89,000. Goldman Sachs Group Inc. grew its stake in Skeena Resources by 174.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company’s stock valued at $3,172,000 after acquiring an additional 199,654 shares in the last quarter. Fortitude Advisory Group L.L.C. purchased a new stake in shares of Skeena Resources in the second quarter worth approximately $194,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Skeena Resources by 26.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 607,000 shares of the company’s stock worth $9,661,000 after buying an additional 128,500 shares in the last quarter. Institutional investors and hedge funds own 45.15% of the company’s stock.

Wall Street Analyst Weigh In

SKE has been the subject of a number of research reports. Desjardins raised Skeena Resources to a “moderate buy” rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded Skeena Resources from a “sell” rating to a “hold” rating in a report on Sunday. Scotiabank reissued an “outperform” rating on shares of Skeena Resources in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Skeena Resources in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Skeena Resources has a consensus rating of “Moderate Buy”.

Skeena Resources Trading Up 4.8%

NYSE SKE opened at $34.99 on Thursday. Skeena Resources Limited has a 1 year low of $8.53 and a 1 year high of $35.19. The company has a fifty day simple moving average of $24.55 and a 200 day simple moving average of $19.56. The company has a market cap of $4.24 billion, a P/E ratio of -47.93 and a beta of 1.22.

Skeena Resources (NYSE:SKE) last released its earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Equities research analysts forecast that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

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.