Fiscal Wisdom Wealth Management LLC Sells 103,329 Shares of Skeena Resources Limited $SKE

Key Points

• Fiscal Wisdom Wealth Management cut its Skeena Resources stake by 61.9% in the first quarter, selling 103,329 shares and leaving it with 63,477 shares worth about $1.885 million.
• Other institutional investors were active in the stock as well, and institutions now hold 45.15% of Skeena Resources’ shares.
• Wall Street sentiment has turned more cautious: recent notes included downgrades to “strong sell” and “sell,” even though the broader consensus remains Moderate Buy.

Fiscal Wisdom Wealth Management LLC trimmed its position in Skeena Resources Limited (NYSE:SKE - Free Report) by 61.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,477 shares of the company's stock after selling 103,329 shares during the period. Skeena Resources makes up approximately 1.8% of Fiscal Wisdom Wealth Management LLC's investment portfolio, making the stock its 6th largest holding. Fiscal Wisdom Wealth Management LLC owned 0.05% of Skeena Resources worth $1,885,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rockefeller Capital Management L.P. increased its stake in shares of Skeena Resources by 41.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company's stock worth $37,000 after purchasing an additional 455 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Skeena Resources during the fourth quarter worth $43,000. PNC Financial Services Group Inc. boosted its position in Skeena Resources by 431.1% during the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company's stock worth $44,000 after purchasing an additional 1,940 shares during the period. Russell Investments Group Ltd. acquired a new position in Skeena Resources in the 4th quarter valued at about $45,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Skeena Resources in the first quarter valued at approximately $89,000. Institutional investors own 45.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SKE. Zacks Research downgraded shares of Skeena Resources from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 2nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Skeena Resources in a research note on Monday, April 20th. Finally, Wall Street Zen lowered shares of Skeena Resources from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Skeena Resources has an average rating of "Moderate Buy".

Skeena Resources Stock Down 8.1%

SKE opened at $25.29 on Friday. The company has a fifty day moving average of $28.54 and a 200-day moving average of $29.89. Skeena Resources Limited has a twelve month low of $13.81 and a twelve month high of $38.77. The stock has a market cap of $3.15 billion, a PE ratio of -16.75 and a beta of 1.14.

Skeena Resources Company 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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