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

Several other institutional investors have also made changes to their positions in the company. Helikon Investments Ltd grew its holdings in shares of Skeena Resources by 33.4% in the 1st quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock worth $120,246,000 after purchasing an additional 2,986,891 shares during the last quarter. Bornite Capital Management LP bought a new stake in Skeena Resources during the first quarter worth about $9,581,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Skeena Resources by 31.8% in 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 buying an additional 367,300 shares during the period. Royal Bank of Canada boosted its holdings in Skeena Resources by 849.9% in the first quarter. Royal Bank of Canada now owns 401,729 shares of the company's stock valued at $4,053,000 after acquiring an additional 359,438 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its holdings in shares of Skeena Resources by 28.4% during the 1st quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock worth $16,293,000 after buying an additional 357,146 shares in the last quarter. 45.15% of the stock is owned by hedge funds and other institutional investors.

Skeena Resources Stock Up 4.5%

NYSE:SKE traded up $0.78 on Friday, reaching $17.93. The company's stock had a trading volume of 373,596 shares, compared to its average volume of 433,961. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -16.51 and a beta of 1.26. The stock has a 50 day moving average price of $16.14 and a 200 day moving average price of $13.61. Skeena Resources Limited has a 12-month low of $7.32 and a 12-month high of $19.33.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on SKE shares. Wall Street Zen lowered 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 report on Thursday, May 22nd. Finally, TD Securities started coverage on Skeena Resources in a research report on Tuesday, August 12th. They set a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, Skeena Resources has an average rating of "Buy".

Skeena Resources 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.