Royal Bank of Canada Acquires 55,463 Shares of Skeena Resources Limited $SKE

Key Points

• Royal Bank of Canada increased its Skeena Resources stake by 4.5% in the first quarter, adding 55,463 shares to own 1.29 million shares worth approximately $38.4 million, or 1.06% of the company.
• Institutional investors collectively own 45.15% of Skeena Resources, with several firms—including Rockefeller Capital Management and Pictet Asset Management—also expanding their positions.
• Skeena shares opened at $27.14, below their 50-day and 200-day moving averages. Analyst sentiment is mixed, with a consensus “Moderate Buy” rating despite recent “strong sell” and “sell” calls.

Royal Bank of Canada grew its holdings in Skeena Resources Limited (NYSE:SKE - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,291,911 shares of the company's stock after purchasing an additional 55,463 shares during the period. Royal Bank of Canada owned approximately 1.06% of Skeena Resources worth $38,395,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Grand Central Investment Group grew its stake in Skeena Resources by 2.9% in the 1st quarter. Grand Central Investment Group now owns 12,958 shares of the company's stock valued at $385,000 after buying an additional 364 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Skeena Resources by 41.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company's stock worth $37,000 after acquiring an additional 455 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Skeena Resources by 5.1% in the first quarter. Pictet Asset Management Holding SA now owns 16,047 shares of the company's stock worth $476,000 after acquiring an additional 776 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Skeena Resources by 6.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 17,240 shares of the company's stock worth $410,000 after acquiring an additional 1,019 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Skeena Resources in the fourth quarter worth $43,000. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

Skeena Resources Price Performance

SKE opened at $27.14 on Tuesday. The company has a fifty day moving average price of $27.51 and a 200-day moving average price of $30.05. The firm has a market capitalization of $3.38 billion, a P/E ratio of -17.97 and a beta of 1.14. Skeena Resources Limited has a one year low of $14.53 and a one year high of $38.77.

Wall Street Analyst Weigh In

SKE has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Skeena Resources in a research note on Friday, July 17th. Zacks Research lowered Skeena Resources from a "hold" rating to a "strong sell" rating in a report on Thursday, July 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Skeena Resources currently has a consensus rating of "Moderate Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source