Medici Capital LLC Takes Position in Skeena Resources Limited $SKE

Key Points

• Medici Capital LLC acquired 121,800 shares of Skeena Resources Limited, valued at approximately $1.9 million, making it the fund's 11th largest holding.
• Skeena Resources recently reported a quarterly earnings per share (EPS) of (-$0.03), missing the consensus estimate and indicating potential concerns about its financial health.
• Brokerages have mixed views on Skeena Resources, with some downgrading the stock to a "sell" rating while others have initiated coverage with a "buy" rating, resulting in an average rating of "Buy."

Medici Capital LLC purchased a new stake in shares of Skeena Resources Limited (NYSE:SKE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 121,800 shares of the company's stock, valued at approximately $1,934,000. Skeena Resources accounts for 1.9% of Medici Capital LLC's portfolio, making the stock its 11th biggest holding. Medici Capital LLC owned 0.11% of Skeena Resources as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SKE. Helikon Investments Ltd raised its holdings in shares of Skeena Resources by 33.4% during the first quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock valued at $120,246,000 after acquiring an additional 2,986,891 shares during the period. Bornite Capital Management LP purchased a new position in Skeena Resources during the first quarter valued at approximately $9,581,000. Connor Clark & Lunn Investment Management Ltd. grew its position in Skeena Resources by 31.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock valued at $15,370,000 after purchasing an additional 367,300 shares in the last quarter. Royal Bank of Canada grew its position in Skeena Resources by 849.9% during the first quarter. Royal Bank of Canada now owns 401,729 shares of the company's stock valued at $4,053,000 after purchasing an additional 359,438 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in Skeena Resources by 28.4% during the first quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock valued at $16,293,000 after purchasing an additional 357,146 shares in the last quarter. Institutional investors and hedge funds own 45.15% of the company's stock.

Skeena Resources Stock Up 0.5%

SKE stock opened at $17.54 on Friday. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -16.09 and a beta of 1.26. Skeena Resources Limited has a 12 month low of $7.32 and a 12 month high of $17.97. The firm has a 50 day moving average of $15.94 and a two-hundred day moving average of $13.40.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The company had revenue of $1.90 million for the quarter, compared to analyst estimates of $1.90 million. On average, research analysts expect that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on SKE. Wall Street Zen downgraded shares of Skeena Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. TD Securities began coverage on shares of Skeena Resources in a research report on Tuesday, August 12th. They set a "buy" rating on the stock. Finally, CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy".

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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