Deutsche Bank AG Boosts Stake in Skeena Resources Limited $SKE

Key Points

• Deutsche Bank AG has increased its position in Skeena Resources Limited by 49.4%, now owning approximately 0.19% of the company's stock valued at $2.23 million.
• Institutional investors own 45.15% of Skeena Resources, with notable stakes increased by companies like Jupiter Asset Management and TD Asset Management.
• The stock has received mixed ratings, with one analyst downgrading it to a "sell" while others maintain a "buy" or "outperform" rating, resulting in an average rating of "buy".

Deutsche Bank AG lifted its position in Skeena Resources Limited (NYSE:SKE - Free Report) by 49.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 221,443 shares of the company's stock after buying an additional 73,215 shares during the quarter. Deutsche Bank AG owned approximately 0.19% of Skeena Resources worth $2,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Skeena Resources by 6.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 478,500 shares of the company's stock valued at $4,826,000 after buying an additional 27,500 shares during the period. Bank of America Corp DE raised its holdings in shares of Skeena Resources by 80.3% in the 4th quarter. Bank of America Corp DE now owns 307,838 shares of the company's stock valued at $2,684,000 after buying an additional 137,134 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Skeena Resources in the 4th quarter valued at $1,342,000. Two Sigma Advisers LP raised its holdings in shares of Skeena Resources by 51.4% in the 4th quarter. Two Sigma Advisers LP now owns 153,725 shares of the company's stock valued at $1,340,000 after buying an additional 52,200 shares during the period. Finally, Jupiter Asset Management Ltd. raised its holdings in shares of Skeena Resources by 28.4% in the 1st quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock valued at $16,293,000 after buying an additional 357,146 shares during the period. Hedge funds and other institutional investors own 45.15% of the company's stock.

Skeena Resources Stock Performance

Shares of NYSE:SKE traded up $0.55 on Tuesday, hitting $15.88. 550,402 shares of the company's stock were exchanged, compared to its average volume of 386,612. The firm's 50-day moving average is $15.52 and its 200 day moving average is $12.82. The company has a market capitalization of $1.82 billion, a PE ratio of -14.57 and a beta of 1.24. Skeena Resources Limited has a 1-year low of $7.22 and a 1-year high of $17.25.

Skeena Resources (NYSE:SKE - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The firm had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.90 million. On average, analysts anticipate that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

Analyst Ratings Changes

SKE has been the topic of several research analyst reports. CIBC reiterated an "outperform" rating on shares of Skeena Resources in a report on Thursday, May 22nd. TD Securities initiated coverage on Skeena Resources in a research note on Tuesday, August 12th. They set a "buy" rating for the company. Finally, Wall Street Zen cut Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy".

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.