Bank of America Corp DE Buys 371,826 Shares of Skeena Resources Limited $SKE

Key Points

• Bank of America initiated a position in Skeena Resources by purchasing 371,826 shares worth approximately $9.9 million, representing about 0.30% of the company. Institutional investors collectively own 45.15% of Skeena’s stock.
• Skeena shares opened at $31.76 and have risen 1.1%, trading between a 52-week range of $15.43 and $38.77. The company reported a quarterly loss of $0.21 per share, missing the consensus estimate of a $0.11 loss.
• Analyst sentiment is mixed but averages to a “Moderate Buy” rating, with one Strong Buy, four Buy, one Hold and one Sell recommendation. Skeena is developing the Eskay Creek gold-silver project in British Columbia and is not currently producing metals.

Bank of America Corp DE purchased a new position in shares of Skeena Resources Limited (NYSE:SKE - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 371,826 shares of the company's stock, valued at approximately $9,913,000. Bank of America Corp DE owned approximately 0.30% of Skeena Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grand Central Investment Group grew its position in shares of Skeena Resources by 2.9% during the 1st quarter. Grand Central Investment Group now owns 12,958 shares of the company's stock valued at $385,000 after acquiring an additional 364 shares during the period. Rockefeller Capital Management L.P. raised its holdings in Skeena Resources by 41.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company's stock worth $37,000 after purchasing an additional 455 shares during the period. Pictet Asset Management Holding SA boosted its position in Skeena Resources by 5.1% during the first quarter. Pictet Asset Management Holding SA now owns 16,047 shares of the company's stock worth $476,000 after purchasing an additional 776 shares in the last quarter. Fortitude Advisory Group L.L.C. boosted its position in Skeena Resources by 8.1% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 59,000 shares of the company's stock worth $1,400,000 after purchasing an additional 4,410 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in Skeena Resources during the fourth quarter worth approximately $161,000. Institutional investors and hedge funds own 45.15% of the company's stock.

Skeena Resources Trading Up 1.1%

Shares of SKE stock opened at $31.76 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 $31.19 and its two-hundred day moving average is $30.07. The firm has a market capitalization of $3.99 billion, a P/E ratio of -21.17 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 -1.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKE has been the subject of a number of recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Skeena Resources in a research report on Friday, July 17th. Wall Street Zen upgraded Skeena Resources from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 15th. Zacks Research raised shares of Skeena Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada raised shares of Skeena Resources to a "moderate buy" rating in a report on Tuesday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

About Skeena Resources

Skeena Resources Limited is a Canadian mineral exploration and development company focused on advancing precious-metals projects in British Columbia's Golden Triangle. The company is not currently a producing mining company and is primarily engaged in exploration, project evaluation, permitting, engineering and mine-development activities.

Skeena's principal asset is the Eskay Creek gold-silver project, a past-producing mine that operated in northwestern British Columbia during the 1990s and 2000s.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.