Groupe la Francaise Raises Position in Skeena Resources Limited $SKE

Key Points

• Groupe la Francaise increased its Skeena Resources stake by 38.5% in the first quarter, purchasing 125,000 additional shares to own 450,000 shares valued at approximately $13.36 million.
• Other institutional investors, including Allspring Global Investments, UBS Group and Intact Investment Management, also raised their positions; institutional investors collectively own 45.15% of Skeena’s stock.
• Analyst sentiment remains mixed: Skeena has a “Moderate Buy” consensus, though Zacks Research downgraded it to “Strong Sell” and Weiss Ratings maintained a “Sell” rating. The stock was recently trading at $27.32, up 6.4%.

Groupe la Francaise boosted its position in Skeena Resources Limited (NYSE:SKE - Free Report) by 38.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 450,000 shares of the company's stock after purchasing an additional 125,000 shares during the period. Groupe la Francaise owned about 0.37% of Skeena Resources worth $13,358,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Caprock Group LLC purchased a new position in Skeena Resources during the fourth quarter worth about $2,956,000. Allspring Global Investments Holdings LLC increased its stake in shares of Skeena Resources by 29.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 977,000 shares of the company's stock valued at $23,206,000 after acquiring an additional 220,000 shares during the last quarter. UBS Group AG increased its stake in shares of Skeena Resources by 25.4% during the 4th quarter. UBS Group AG now owns 1,290,071 shares of the company's stock valued at $30,613,000 after acquiring an additional 260,954 shares during the last quarter. Intact Investment Management Inc. lifted its holdings in shares of Skeena Resources by 81.3% during the 4th quarter. Intact Investment Management Inc. now owns 157,200 shares of the company's stock worth $3,734,000 after acquiring an additional 70,500 shares during the period. Finally, Pekin Hardy Strauss Inc. lifted its holdings in shares of Skeena Resources by 26.7% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 224,073 shares of the company's stock worth $5,330,000 after acquiring an additional 47,150 shares during the period. Hedge funds and other institutional investors own 45.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Zacks Research cut shares of Skeena Resources from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 2nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Skeena Resources in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Skeena Resources presently has an average rating of "Moderate Buy".

Skeena Resources Trading Up 6.4%

NYSE:SKE opened at $27.32 on Friday. The firm's fifty day simple moving average is $27.56 and its 200 day simple moving average is $30.04. Skeena Resources Limited has a twelve month low of $13.81 and a twelve month high of $38.77. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of -18.09 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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