Skeena Resources Limited (NYSE:SKE) Shares Purchased by Jupiter Asset Management Ltd.

Key Points

• Jupiter Asset Management Ltd. increased its stake in Skeena Resources by 28.4%, acquiring an additional 357,146 shares during the first quarter, bringing its total holdings to 1,616,139 shares valued at approximately $16.3 million.
• Other institutional investors, including Invesco Ltd., TD Asset Management Inc., and Mackenzie Financial Corp, have also significantly increased their positions in Skeena Resources, indicating strong institutional interest.
• Skeena Resources recently reported a quarterly loss of ($0.06) EPS, missing analysts' expectations, while the stock is trading near $14.37, well above its one-year low of $5.63.

Jupiter Asset Management Ltd. raised its stake in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,616,139 shares of the company's stock after acquiring an additional 357,146 shares during the period. Jupiter Asset Management Ltd. owned approximately 1.42% of Skeena Resources worth $16,293,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SKE. Tower Research Capital LLC TRC raised its stake in shares of Skeena Resources by 2,067.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company's stock worth $51,000 after buying an additional 5,541 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Skeena Resources during the 1st quarter worth approximately $91,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Skeena Resources during the 1st quarter worth approximately $101,000. Aquatic Capital Management LLC purchased a new position in shares of Skeena Resources during the 4th quarter worth approximately $89,000. Finally, Eagle Global Advisors LLC purchased a new position in shares of Skeena Resources during the 4th quarter worth approximately $112,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SKE has been the subject of several research analyst reports. Wall Street Zen downgraded Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a research note on Thursday, May 22nd.

Skeena Resources Stock Up 1.4%

NYSE SKE traded up $0.22 during mid-day trading on Thursday, hitting $15.83. The stock had a trading volume of 90,472 shares, compared to its average volume of 417,809. Skeena Resources Limited has a 52-week low of $5.63 and a 52-week high of $17.25. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -13.76 and a beta of 1.24. The company has a 50 day simple moving average of $15.15 and a 200 day simple moving average of $12.29.

Skeena Resources (NYSE:SKE - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). As a group, equities analysts anticipate that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

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.