Legal & General Group Plc Buys New Shares in Skeena Resources Limited $SKE

Key Points

• Legal & General Group Plc acquired 71,812 Skeena Resources shares worth approximately $1.9 million, giving it a 0.06% stake. Institutional investors and hedge funds collectively own 45.15% of the company.
• Analyst sentiment is mixed but leans positive, with Skeena holding a “Moderate Buy” consensus rating; recent actions included upgrades from “strong sell” to “hold” and “sell.”
• Skeena shares opened at $33.02, near the upper end of their 52-week range, while the company’s latest quarterly loss of $0.21 per share missed the $0.11 consensus estimate.

Legal & General Group Plc bought a new position in shares of Skeena Resources Limited (NYSE:SKE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 71,812 shares of the company's stock, valued at approximately $1,913,000. Legal & General Group Plc owned 0.06% of Skeena Resources at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SKE. 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 valued at $37,000 after acquiring an additional 455 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Skeena Resources in the fourth quarter worth approximately $43,000. PNC Financial Services Group Inc. boosted its position in shares of Skeena Resources by 431.1% in the third quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company's stock worth $44,000 after acquiring an additional 1,940 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in Skeena Resources in the fourth quarter valued at approximately $45,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Skeena Resources in the first quarter valued at approximately $89,000. 45.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SKE has been the subject of several research reports. Zacks Research raised shares of Skeena Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. Weiss Ratings reissued a "sell (d-)" rating on shares of Skeena Resources in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Skeena Resources from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Skeena Resources Trading Down 0.2%

Shares of SKE stock opened at $33.02 on Monday. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -22.01 and a beta of 1.16. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 5.66. Skeena Resources Limited has a fifty-two week low of $15.43 and a fifty-two week high of $38.77. The firm's 50 day moving average price is $29.76 and its two-hundred day moving average price is $30.40.

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

About Skeena Resources

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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