Amundi Lowers Holdings in Skeena Resources Limited $SKE

Key Points

• Amundi cut its Skeena Resources stake by 30.3% in the second quarter, selling 625,475 shares and retaining 1.44 million shares worth approximately $38.4 million.
• Institutional ownership remains significant at 45.15%, with Van ECK nearly doubling its position and Vanguard more than doubling its stake.
• Skeena shares were trading at $31.18 after falling 5.4%; the company missed quarterly earnings expectations, while analysts maintained a consensus rating of “Moderate Buy.”

Amundi reduced its stake in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 30.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,440,603 shares of the company's stock after selling 625,475 shares during the period. Amundi owned approximately 1.16% of Skeena Resources worth $38,406,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SKE. Van ECK Associates Corp boosted its stake in shares of Skeena Resources by 99.7% in the second quarter. Van ECK Associates Corp now owns 9,017,001 shares of the company's stock worth $240,403,000 after buying an additional 4,501,723 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Skeena Resources by 108.3% in the 4th quarter. Vanguard Group Inc. now owns 2,625,277 shares of the company's stock valued at $62,353,000 after purchasing an additional 1,364,835 shares during the period. Franklin Resources Inc. boosted its holdings in Skeena Resources by 7.6% during the fourth quarter. Franklin Resources Inc. now owns 2,396,970 shares of the company's stock worth $56,933,000 after buying an additional 168,932 shares in the last quarter. Millennium Management LLC boosted its holdings in Skeena Resources by 44.6% during the fourth quarter. Millennium Management LLC now owns 2,202,510 shares of the company's stock worth $52,309,000 after buying an additional 679,709 shares in the last quarter. Finally, Bornite Capital Management LP boosted its holdings in Skeena Resources by 23.4% during the second quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company's stock worth $43,152,000 after buying an additional 307,600 shares in the last quarter. Hedge funds and other institutional investors own 45.15% of the company's stock.

Skeena Resources Trading Down 5.4%

Shares of SKE stock opened at $31.18 on Friday. Skeena Resources Limited has a fifty-two week low of $15.43 and a fifty-two week high of $38.77. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15. The stock's fifty day moving average is $30.18 and its two-hundred day moving average is $30.37. The firm has a market capitalization of $3.91 billion, a P/E ratio of -20.79 and a beta of 1.16.

Skeena Resources (NYSE:SKE - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.10). Research analysts expect that Skeena Resources Limited will post -1.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SKE. Zacks Research upgraded Skeena Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Wall Street Zen raised Skeena Resources from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Skeena Resources in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Skeena Resources presently has a consensus rating of "Moderate Buy".

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.

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