957,000 Shares in Skeena Resources Limited (NYSE:SKE) Acquired by Bornite Capital Management LP

Key Points

• Bornite Capital Management LP acquired 957,000 shares of Skeena Resources Limited, valued at approximately $9.58 million, increasing its stake in the company to 0.84%.
• Other institutional investors, such as Helikon Investments Ltd and Jupiter Asset Management Ltd, also increased their stakes, with Helikon raising its investment by 33.4% in the first quarter.
• Skeena Resources reported a **loss** of $0.06 per share in its latest earnings report, missing analysts' estimates, as analysts project a further loss of $0.98 EPS for the current fiscal year.

Bornite Capital Management LP bought a new position in shares of Skeena Resources Limited (NYSE:SKE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 957,000 shares of the company's stock, valued at approximately $9,581,000. Skeena Resources comprises 2.5% of Bornite Capital Management LP's investment portfolio, making the stock its 18th biggest holding. Bornite Capital Management LP owned approximately 0.84% of Skeena Resources at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Helikon Investments Ltd lifted its stake in Skeena Resources by 33.4% in the first quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock valued at $120,246,000 after buying an additional 2,986,891 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in Skeena Resources by 28.4% in the first quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock valued at $16,293,000 after buying an additional 357,146 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Skeena Resources by 31.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock valued at $15,370,000 after buying an additional 367,300 shares during the last quarter. TD Asset Management Inc lifted its stake in Skeena Resources by 28.9% in the first quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock valued at $12,959,000 after buying an additional 288,312 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Skeena Resources by 4,414.9% in the fourth quarter. Invesco Ltd. now owns 783,964 shares of the company's stock valued at $6,836,000 after buying an additional 766,600 shares during the last quarter. Hedge funds and other institutional investors own 45.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SKE shares. CIBC reissued an "outperform" rating on shares of Skeena Resources in a report on Thursday, May 22nd. Wall Street Zen lowered Skeena Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

Skeena Resources Price Performance

Shares of SKE stock opened at $15.31 on Friday. The business's fifty day moving average price is $15.27 and its 200 day moving average price is $12.39. Skeena Resources Limited has a 1-year low of $5.63 and a 1-year high of $17.25. The firm has a market capitalization of $1.76 billion, a PE ratio of -13.31 and a beta of 1.24.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.06) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Equities research analysts expect that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.