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 Skeena Resources Limited (NYSE:SKE - Free Report) by 382.4% during the first quarter, according to the company in 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 quarter. Mackenzie Financial Corp owned 0.18% of Skeena Resources worth $2,043,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SKE. Tower Research Capital LLC TRC grew its stake in shares of 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 valued at $51,000 after buying an additional 5,541 shares during the last quarter. Aquatic Capital Management LLC bought a new position in Skeena Resources during the 4th quarter worth approximately $89,000. Eagle Global Advisors LLC purchased a new position in Skeena Resources in the 4th quarter worth approximately $112,000. BNP Paribas Financial Markets purchased a new position in Skeena Resources in the 4th quarter worth approximately $128,000. Finally, Graham Capital Management L.P. bought a new stake in Skeena Resources in the fourth quarter valued at approximately $135,000. Hedge funds and other institutional investors own 45.15% of the company's stock.

Analyst Upgrades and Downgrades

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

Skeena Resources Stock Up 3.9%

SKE stock traded up $0.56 during trading on Monday, reaching $14.94. The company's stock had a trading volume of 205,704 shares, compared to its average volume of 521,123. The company's fifty day moving average is $15.03 and its 200-day moving average is $12.24. Skeena Resources Limited has a 1 year low of $5.63 and a 1 year high of $17.25. The company has a market capitalization of $1.71 billion, a P/E ratio of -12.99 and a beta of 1.24.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.03). Analysts anticipate that Skeena Resources Limited will post -0.98 earnings per share 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.