Connor Clark & Lunn Investment Management Ltd. Purchases 367,300 Shares of Skeena Resources Limited (NYSE:SKE)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Skeena Resources Limited by 31.8%, now holding 1,524,038 shares worth approximately $15.37 million.
• Skeena Resources reported a quarterly loss of ($0.06) EPS, missing the expected consensus estimate of ($0.03).
• The stock price of Skeena Resources has decreased 2.8%, with a current market cap of $1.76 billion and a 52-week trading range between $5.63 and $17.25.

Connor Clark & Lunn Investment Management Ltd. increased its stake in Skeena Resources Limited (NYSE:SKE - Free Report) by 31.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,524,038 shares of the company's stock after purchasing an additional 367,300 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.34% of Skeena Resources worth $15,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in shares of Skeena Resources by 2,067.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company's stock worth $51,000 after buying an additional 5,541 shares during the period. Aquatic Capital Management LLC purchased a new stake in Skeena Resources in the 4th quarter worth about $89,000. Banque Cantonale Vaudoise acquired a new stake in Skeena Resources during the 1st quarter worth about $91,000. Mesirow Financial Investment Management Inc. purchased a new position in Skeena Resources during the 1st quarter valued at about $101,000. Finally, Eagle Global Advisors LLC purchased a new position in Skeena Resources during the 4th quarter valued at about $112,000. Hedge funds and other institutional investors own 45.15% of the company's stock.

Skeena Resources Stock Performance

SKE stock traded up $0.01 during mid-day trading on Wednesday, hitting $15.82. The stock had a trading volume of 258,083 shares, compared to its average volume of 479,109. Skeena Resources Limited has a 1-year low of $7.17 and a 1-year high of $17.25. The company has a fifty day moving average of $15.34 and a 200 day moving average of $12.47.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Analysts predict that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SKE shares. CIBC reissued an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. TD Securities began coverage on shares of Skeena Resources in a research note on Tuesday. They issued a "buy" rating on the stock. Finally, Wall Street Zen lowered shares of Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average 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.