Allspring Global Investments Holdings LLC Increases Stake in Skeena Resources Limited $SKE

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Skeena Resources Limited by 26.9% during the second quarter, now owning approximately 0.53% of the company, valued at $9.66 million.
• Skeena Resources' stock price declined by 8.2% recently, with a current P/E ratio of -16.56 and a market cap of $2.08 billion.
• Analyst ratings for Skeena Resources are mixed, with one Strong Buy, three Buy, and one Sell rating, resulting in an average rating of Moderate Buy.

Allspring Global Investments Holdings LLC raised its holdings in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 26.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 607,000 shares of the company's stock after purchasing an additional 128,500 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.53% of Skeena Resources worth $9,661,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northwest & Ethical Investments L.P. bought a new stake in shares of Skeena Resources in the first quarter valued at approximately $77,000. Cubist Systematic Strategies LLC bought a new stake in Skeena Resources during the 1st quarter valued at $89,000. Banque Cantonale Vaudoise bought a new stake in Skeena Resources during the 1st quarter valued at $91,000. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Skeena Resources during the first quarter worth $101,000. Finally, Fortitude Advisory Group L.L.C. bought a new position in shares of Skeena Resources in the second quarter worth $194,000. Institutional investors own 45.15% of the company's stock.

Skeena Resources Stock Down 8.2%

NYSE:SKE opened at $18.05 on Friday. The stock has a market cap of $2.08 billion, a P/E ratio of -16.56 and a beta of 1.27. The business's 50-day moving average price is $17.34 and its two-hundred day moving average price is $14.85. Skeena Resources Limited has a twelve month low of $7.32 and a twelve month high of $20.77.

Skeena Resources (NYSE:SKE - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $1.90 million during the quarter, compared to the consensus estimate of $1.90 million. On average, equities research analysts expect that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SKE. Weiss Ratings reiterated a "sell (d-)" rating on shares of Skeena Resources in a research note on Wednesday, October 8th. Desjardins upgraded Skeena Resources to a "moderate buy" rating in a research report on Wednesday, October 8th. Raymond James Financial restated a "strong-buy" rating on shares of Skeena Resources in a research report on Friday, October 10th. Finally, TD Securities began coverage on shares of Skeena Resources in a research note on Tuesday, August 12th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Skeena Resources presently has an average rating of "Moderate Buy".

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.

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