Skeena Resources Limited (NYSE:SKE) Position Cut by Ruffer LLP

Key Points

• Ruffer LLP has reduced its stake in Skeena Resources Limited by 12.1%, selling 210,499 shares and retaining approximately 1.53 million shares valued at about $15.5 million.
• Despite this reduction, other institutional investors like Mackenzie Financial Corp and Pictet Asset Management have increased their holdings in Skeena Resources during the fourth quarter.
• Skeena Resources reported a $0.06 EPS loss in its latest quarterly earnings, missing analyst expectations and forecasting an average of -0.98 earnings per share for the current fiscal year.

Ruffer LLP trimmed its position in Skeena Resources Limited (NYSE:SKE - Free Report) by 12.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,534,883 shares of the company's stock after selling 210,499 shares during the period. Ruffer LLP owned about 1.34% of Skeena Resources worth $15,481,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its position in shares of Skeena Resources by 6.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 478,500 shares of the company's stock valued at $4,826,000 after buying an additional 27,500 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Skeena Resources by 80.3% in the fourth quarter. Bank of America Corp DE now owns 307,838 shares of the company's stock valued at $2,684,000 after purchasing an additional 137,134 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Skeena Resources in the fourth quarter worth about $1,342,000. JPMorgan Chase & Co. acquired a new position in Skeena Resources in the 4th quarter worth about $4,549,000. Finally, Two Sigma Advisers LP increased its stake in Skeena Resources by 51.4% during the 4th quarter. Two Sigma Advisers LP now owns 153,725 shares of the company's stock worth $1,340,000 after buying an additional 52,200 shares in the last quarter. 45.15% of the stock is owned by hedge funds and other institutional investors.

Skeena Resources Stock Down 2.0%

Shares of NYSE SKE traded down $0.31 during midday trading on Friday, hitting $15.43. The stock had a trading volume of 204,763 shares, compared to its average volume of 418,587. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -13.43 and a beta of 1.24. Skeena Resources Limited has a 1-year low of $5.63 and a 1-year high of $17.25. The company has a fifty day moving average price of $15.22 and a 200 day moving average price of $12.33.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). On average, research analysts forecast that Skeena Resources Limited will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

SKE has been the topic of several analyst reports. CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. Wall Street Zen lowered shares of Skeena Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

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.