Empowered Funds LLC Acquires Shares of 42,935 Skeena Resources Limited $SKE

Key Points

• Empowered Funds LLC acquired 42,935 shares of Skeena Resources, valued at approximately $1.15 million. Institutional investors collectively own 45.15% of the company, with several major funds increasing their positions.
• Analyst sentiment is mixed but leans positive, with Skeena carrying a consensus “Moderate Buy” rating. Recent rating changes included upgrades from “strong sell” to “hold” and “sell.”
• Skeena reported quarterly earnings of -$0.21 per share, missing the consensus estimate of -$0.11. Shares opened at $33.02, while analysts expect a full-year loss of approximately $1.22 per share.

Empowered Funds LLC bought a new position in shares of Skeena Resources Limited (NYSE:SKE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 42,935 shares of the company's stock, valued at approximately $1,145,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Skeena Resources by 849.9% in the 1st quarter. Royal Bank of Canada now owns 401,729 shares of the company's stock valued at $4,053,000 after acquiring an additional 359,438 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Skeena Resources in the 1st quarter valued at about $89,000. Goldman Sachs Group Inc. boosted its holdings in shares of Skeena Resources by 174.0% in the first quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company's stock valued at $3,172,000 after acquiring an additional 199,654 shares during the period. Geode Capital Management LLC increased its holdings in shares of Skeena Resources by 4.3% in the second quarter. Geode Capital Management LLC now owns 45,364 shares of the company's stock valued at $719,000 after purchasing an additional 1,881 shares during the period. Finally, Legal & General Group Plc raised its position in Skeena Resources by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 81,489 shares of the company's stock worth $1,294,000 after buying an additional 4,037 shares during the last quarter. Institutional investors and hedge funds own 45.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Zacks Research upgraded Skeena Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. Wall Street Zen upgraded Skeena Resources from a "strong sell" rating to a "sell" rating in a report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Skeena Resources in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Skeena Resources Price Performance

Shares of SKE stock opened at $33.02 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 3.15 and a quick ratio of 3.15. The firm has a market cap of $4.14 billion, a P/E ratio of -22.01 and a beta of 1.16. Skeena Resources Limited has a 1-year low of $15.43 and a 1-year high of $38.77. The firm has a fifty day moving average of $29.76 and a two-hundred day moving average of $30.41.

Skeena Resources (NYSE:SKE - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.10). As a group, research analysts anticipate that Skeena Resources Limited will post -1.22 earnings per share for the current fiscal year.

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.

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