71,166 Shares in Skeena Resources Limited $SKE Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in Skeena Resources Limited, purchasing 71,166 shares valued at approximately $717,000.
• Skeena Resources has recently received mixed opinions from analysts, with one firm upgrading to a "buy" rating while another downgraded to a "sell," leading to a current consensus rating of "Buy."
• The company's stock opened at $17.18 and has seen a 52-week range between $7.22 and $17.65, with a market cap of $1.97 billion.

Nuveen LLC acquired a new stake in shares of Skeena Resources Limited (NYSE:SKE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 71,166 shares of the company's stock, valued at approximately $717,000. Nuveen LLC owned 0.06% of Skeena Resources at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in SKE. Helikon Investments Ltd increased its position in Skeena Resources by 33.4% during the 1st quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock valued at $120,246,000 after purchasing an additional 2,986,891 shares during the period. Bornite Capital Management LP purchased a new position in Skeena Resources during the 1st quarter valued at $9,581,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Skeena Resources by 31.8% during the 1st 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 during the period. Jupiter Asset Management Ltd. increased its position in Skeena Resources by 28.4% during the 1st 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 during the period. Finally, TD Asset Management Inc increased its position in Skeena Resources by 28.9% during the 1st quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock valued at $12,959,000 after purchasing an additional 288,312 shares during the period. 45.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Securities assumed coverage on shares of Skeena Resources in a research report on Tuesday, August 12th. They set a "buy" rating on the stock. CIBC reissued an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Skeena Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Buy".

Skeena Resources Stock Up 3.5%

Shares of NYSE:SKE traded up $0.58 during midday trading on Friday, reaching $17.33. The company's stock had a trading volume of 365,681 shares, compared to its average volume of 398,301. The firm has a 50 day moving average of $15.76 and a 200-day moving average of $13.14. The firm has a market capitalization of $1.99 billion, a P/E ratio of -15.90 and a beta of 1.26. Skeena Resources Limited has a 12-month low of $7.32 and a 12-month high of $17.65.

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

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.