Dynamic Technology Lab Private Ltd Makes New Investment in Skeena Resources Limited $SKE

Key Points

• Dynamic Technology Lab Private Ltd acquired a new position in Skeena Resources Limited during Q1, purchasing 35,599 shares valued at approximately $359,000.
• Skeena Resources reported a quarterly loss of ($0.03) EPS, missing the consensus estimate by ($0.01), while revenues matched analyst estimates at $1.90 million.
• Institutional investors now hold approximately 45.15% of Skeena Resources' stock, indicating significant institutional interest in the company.

Dynamic Technology Lab Private Ltd purchased a new stake in Skeena Resources Limited (NYSE:SKE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 35,599 shares of the company's stock, valued at approximately $359,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwest & Ethical Investments L.P. acquired a new position in Skeena Resources in the 1st quarter worth about $77,000. Cubist Systematic Strategies LLC bought a new stake in shares of Skeena Resources during the first quarter worth about $89,000. Banque Cantonale Vaudoise acquired a new position in shares of Skeena Resources in the first quarter valued at approximately $91,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of Skeena Resources in the first quarter valued at approximately $101,000. Finally, BNP Paribas Financial Markets bought a new position in Skeena Resources in the 4th quarter valued at approximately $128,000. Institutional investors own 45.15% of the company's stock.

Skeena Resources Stock Performance

Shares of NYSE:SKE traded down $1.16 during trading on Thursday, reaching $17.15. The stock had a trading volume of 1,309,627 shares, compared to its average volume of 530,126. Skeena Resources Limited has a 52 week low of $7.32 and a 52 week high of $19.33. The firm's fifty day moving average is $16.14 and its 200 day moving average is $13.61. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of -15.73 and a beta of 1.26.

Skeena Resources (NYSE:SKE - Get Free Report) last released its earnings results 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 company had revenue of $1.90 million for the quarter, compared to analyst estimates of $1.90 million. On average, research analysts forecast that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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