Allspring Global Investments Holdings LLC Increases Position in Skeena Resources Limited (NYSE:SKE)

Allspring Global Investments Holdings LLC increased its stake in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 6.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 478,500 shares of the company's stock after buying an additional 27,500 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.42% of Skeena Resources worth $4,826,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in 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 purchasing an additional 5,541 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in Skeena Resources in the fourth quarter worth about $89,000. Eagle Global Advisors LLC bought a new position in Skeena Resources in the 4th quarter valued at $112,000. FNY Investment Advisers LLC lifted its stake in shares of Skeena Resources by 237.5% during the first quarter. FNY Investment Advisers LLC now owns 13,500 shares of the company's stock valued at $136,000 after acquiring an additional 9,500 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Skeena Resources in the fourth quarter valued at approximately $128,000. Hedge funds and other institutional investors own 45.15% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SKE. CIBC reissued an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. Raymond James Financial restated a "strong-buy" rating on shares of Skeena Resources in a research report on Friday, April 4th. Finally, Wall Street Zen downgraded Skeena Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Skeena Resources Stock Up 0.1%

SKE traded up $0.02 during midday trading on Wednesday, hitting $15.38. 270,703 shares of the company were exchanged, compared to its average volume of 398,557. The firm's 50 day moving average price is $13.64 and its 200-day moving average price is $11.38. Skeena Resources Limited has a 1-year low of $5.63 and a 1-year high of $16.41. The firm has a market capitalization of $1.77 billion, a P/E ratio of -13.38 and a beta of 1.26.

Skeena Resources (NYSE:SKE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). On average, sell-side analysts predict that Skeena Resources Limited will post -0.98 earnings per share 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.