957,000 Shares in Skeena Resources Limited (NYSE:SKE) Bought 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 stake in Skeena Resources Limited (NYSE:SKE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. 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 position. Bornite Capital Management LP owned about 0.84% of Skeena Resources as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of Skeena Resources by 2,067.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company's stock valued at $51,000 after acquiring an additional 5,541 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Skeena Resources during the 1st quarter worth approximately $91,000. Mesirow Financial Investment Management Inc. purchased a new stake in Skeena Resources during the 1st quarter worth approximately $101,000. Aquatic Capital Management LLC purchased a new stake in Skeena Resources during the 4th quarter worth approximately $89,000. Finally, Eagle Global Advisors LLC purchased a new stake in Skeena Resources during the 4th quarter worth approximately $112,000. 45.15% of the stock is currently owned by institutional investors and hedge funds.

Skeena Resources Stock Down 0.5%

NYSE SKE traded down $0.09 on Thursday, hitting $15.70. 246,363 shares of the stock were exchanged, compared to its average volume of 481,988. Skeena Resources Limited has a fifty-two week low of $7.22 and a fifty-two week high of $17.25. The company has a market cap of $1.80 billion, a PE ratio of -13.65 and a beta of 1.24. The company has a 50-day moving average price of $15.39 and a 200-day moving average price of $12.54.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). As a group, equities research analysts predict that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SKE has been the topic of several recent research reports. CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a research note on Thursday, May 22nd. TD Securities initiated coverage on shares of Skeena Resources in a research note on Tuesday. They set a "buy" rating on the stock. Finally, Wall Street Zen downgraded shares of Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

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.