Mackenzie Financial Corp Buys 160,639 Shares of Skeena Resources Limited (NYSE:SKE)

Key Points

• Mackenzie Financial Corp significantly increased its holdings in Skeena Resources Limited, boosting its position by 382.4%, resulting in ownership of 202,642 shares valued at approximately $2,043,000.
• Other institutional investors, such as Allspring Global Investments and Bank of America Corp, also enhanced their stakes in Skeena Resources by 6.1% and 80.3%, respectively, highlighting growing interest among major investors.
• Analysts' ratings are mixed; while CIBC reaffirmed an "outperform" rating, Wall Street Zen downgraded Skeena Resources from "hold" to "sell" on May 22nd.

Mackenzie Financial Corp boosted its position in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 382.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,642 shares of the company's stock after acquiring an additional 160,639 shares during the period. Mackenzie Financial Corp owned 0.18% of Skeena Resources worth $2,043,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in Skeena Resources by 2,067.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company's stock worth $51,000 after acquiring an additional 5,541 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Skeena Resources in the fourth quarter valued at approximately $89,000. Eagle Global Advisors LLC purchased a new stake in Skeena Resources in the fourth quarter valued at approximately $112,000. FNY Investment Advisers LLC grew its stake in shares of Skeena Resources by 237.5% in the 1st quarter. FNY Investment Advisers LLC now owns 13,500 shares of the company's stock valued at $136,000 after purchasing an additional 9,500 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Skeena Resources in the fourth quarter valued at approximately $128,000. Institutional investors and hedge funds own 45.15% of the company's stock.

Skeena Resources Price Performance

Shares of NYSE:SKE traded up $0.13 during midday trading on Thursday, reaching $15.74. The company's stock had a trading volume of 253,255 shares, compared to its average volume of 419,043. The company has a market capitalization of $1.81 billion, a P/E ratio of -13.67 and a beta of 1.24. The business's fifty day simple moving average is $15.15 and its 200-day simple moving average is $12.29. Skeena Resources Limited has a fifty-two week low of $5.63 and a fifty-two week high of $17.25.

Skeena Resources (NYSE:SKE - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). On average, analysts forecast that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen cut Skeena Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. CIBC reissued an "outperform" rating on shares of Skeena Resources in a research note on Thursday, May 22nd.

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.