CenterBook Partners LP Purchases 62,816 Shares of Skeena Resources Limited $SKE

Key Points

• CenterBook Partners initiated a position in Skeena Resources, buying 62,816 shares valued at approximately $1.87 million, or about 0.05% of the company.
• Institutional investors own 45.15% of Skeena; Van ECK Associates is a major holder, with 9.02 million shares valued at roughly $240 million.
• Skeena’s latest quarterly loss of $0.21 per share missed analysts’ $0.11 loss estimate. Analyst views are mixed, with a consensus rating of Hold.

CenterBook Partners LP purchased a new position in Skeena Resources Limited (NYSE:SKE - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 62,816 shares of the company's stock, valued at approximately $1,868,000. CenterBook Partners LP owned approximately 0.05% of Skeena Resources at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of Skeena Resources by 99.7% during the second quarter. Van ECK Associates Corp now owns 9,017,001 shares of the company's stock valued at $240,403,000 after purchasing an additional 4,501,723 shares during the last quarter. Bornite Capital Management LP boosted its position in shares of Skeena Resources by 23.4% in the 2nd quarter. Bornite Capital Management LP now owns 1,620,600 shares of the company's stock valued at $43,152,000 after purchasing an additional 307,600 shares during the period. Royal Bank of Canada boosted its position in shares of Skeena Resources by 4.5% in the 1st quarter. Royal Bank of Canada now owns 1,291,911 shares of the company's stock valued at $38,395,000 after purchasing an additional 55,463 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Skeena Resources in the 2nd quarter worth about $19,768,000. Finally, Groupe la Francaise increased its stake in Skeena Resources by 1.1% in the 2nd quarter. Groupe la Francaise now owns 455,000 shares of the company's stock worth $12,132,000 after purchasing an additional 5,000 shares in the last quarter. 45.15% of the stock is currently owned by institutional investors.

Skeena Resources Stock Down 0.3%

Shares of SKE stock opened at $30.84 on Monday. The stock's 50 day simple moving average is $30.73 and its 200 day simple moving average is $30.56. The company has a debt-to-equity ratio of 5.66, a quick ratio of 3.15 and a current ratio of 3.15. Skeena Resources Limited has a twelve month low of $15.86 and a twelve month high of $38.77. The company has a market capitalization of $3.87 billion, a price-to-earnings ratio of -20.56 and a beta of 1.19.

Skeena Resources (NYSE:SKE - Get Free Report) last released its quarterly 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). As a group, research analysts predict that Skeena Resources Limited will post -1.21 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SKE shares. Royal Bank Of Canada upgraded Skeena Resources to a "moderate buy" rating in a report on Tuesday, September 15th. Weiss Ratings reissued a "sell (d-)" rating on shares of Skeena Resources in a research report on Thursday, October 15th. Zacks Research lowered Skeena Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, October 22nd. Finally, Wall Street Zen raised Skeena Resources from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Skeena Resources currently has a consensus rating of "Hold".

About Skeena Resources

Skeena Resources Ltd. is a Canadian mineral exploration and development company focused on gold and silver projects in British Columbia. Its main asset is the Eskay Creek project in the province's Golden Triangle, a region known for mineral deposits.

Eskay Creek was a producing mine from 1994 to 2008. Skeena acquired the project from Barrick Gold in 2017 and is working to advance its redevelopment. The company has also held interests in other regional properties, including the Snip project.

Skeena is headquartered in Vancouver and focuses on evaluating and developing mineral resources rather than operating a portfolio of producing mines.

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