Goldman Sachs Group Inc. Has $3.17 Million Stock Holdings in Skeena Resources Limited $SKE

Key Points

• Goldman Sachs has increased its stake in Skeena Resources by 174%, now holding 314,370 shares valued at approximately $3.17 million.
• Other institutional investors, including Royal Bank of Canada, have also significantly boosted their positions in Skeena Resources during the first quarter.
• Skeena Resources stock has an average rating of “Buy” from analysts, despite reporting a quarterly earnings miss with a loss of $0.03 per share.

Goldman Sachs Group Inc. grew its stake in Skeena Resources Limited (NYSE:SKE - Free Report) by 174.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 314,370 shares of the company's stock after buying an additional 199,654 shares during the period. Goldman Sachs Group Inc. owned approximately 0.27% of Skeena Resources worth $3,172,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Helikon Investments Ltd increased its stake in shares of Skeena Resources by 33.4% in the first quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock worth $120,246,000 after purchasing an additional 2,986,891 shares during the period. Jupiter Asset Management Ltd. increased its stake in Skeena Resources by 28.4% during the first quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock valued at $16,293,000 after acquiring an additional 357,146 shares during the period. Amundi increased its stake in Skeena Resources by 29.2% during the first quarter. Amundi now owns 1,575,000 shares of the company's stock valued at $15,340,000 after acquiring an additional 355,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Skeena Resources by 31.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock valued at $15,370,000 after acquiring an additional 367,300 shares during the period. Finally, TD Asset Management Inc increased its stake in Skeena Resources by 28.9% during the first quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock valued at $12,959,000 after acquiring an additional 288,312 shares during the period. 45.15% of the stock is currently owned by institutional investors.

Skeena Resources Price Performance

Shares of SKE traded down $0.04 on Tuesday, hitting $18.73. The company's stock had a trading volume of 83,819 shares, compared to its average volume of 443,070. The company has a market capitalization of $2.16 billion, a PE ratio of -17.24 and a beta of 1.26. Skeena Resources Limited has a fifty-two week low of $7.32 and a fifty-two week high of $19.33. The company has a 50 day moving average price of $16.22 and a 200 day moving average price of $13.79.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported ($0.03) 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, equities analysts forecast that Skeena Resources Limited will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

Separately, TD Securities initiated coverage on Skeena Resources in a research note on Tuesday, August 12th. They set a "buy" rating on the stock. One research 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.com, Skeena Resources currently 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.