Ruffer LLP Sells 23,228 Shares of Skeena Resources Limited $SKE

Key Points

• Ruffer LLP has reduced its stake in Skeena Resources Limited by selling 23,228 shares, now holding 1,511,655 shares, which represents 1.1% of its total investment portfolio.
• Skeena Resources reported a quarterly loss of ($0.03) earnings per share, missing analyst expectations, while its revenue matched consensus estimates at $1.90 million.
• Institutional investors own approximately 45.15% of Skeena Resources' stock, with several funds increasing their positions in the company recently.

Ruffer LLP trimmed its holdings in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,511,655 shares of the company's stock after selling 23,228 shares during the quarter. Skeena Resources comprises about 1.1% of Ruffer LLP's investment portfolio, making the stock its 25th largest holding. Ruffer LLP owned approximately 1.32% of Skeena Resources worth $24,071,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Mackenzie Financial Corp increased its position in Skeena Resources by 4.3% during the fourth quarter. Mackenzie Financial Corp now owns 42,003 shares of the company's stock worth $365,000 after acquiring an additional 1,742 shares during the period. Federation des caisses Desjardins du Quebec increased its position in Skeena Resources by 1.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 275,745 shares of the company's stock worth $2,761,000 after acquiring an additional 3,325 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Skeena Resources by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,480 shares of the company's stock worth $597,000 after acquiring an additional 3,878 shares during the period. PDT Partners LLC increased its position in Skeena Resources by 28.8% during the first quarter. PDT Partners LLC now owns 22,493 shares of the company's stock worth $227,000 after acquiring an additional 5,023 shares during the period. Finally, National Bank of Canada FI increased its position in Skeena Resources by 12.3% during the first quarter. National Bank of Canada FI now owns 54,750 shares of the company's stock worth $548,000 after acquiring an additional 5,979 shares during the period. 45.15% of the stock is owned by institutional investors.

Skeena Resources Trading Down 4.1%

SKE opened at $17.83 on Thursday. The company's 50 day moving average is $16.29 and its 200-day moving average is $13.85. Skeena Resources Limited has a 1-year low of $7.32 and a 1-year high of $19.33. The company has a market cap of $2.05 billion, a P/E ratio of -16.36 and a beta of 1.26.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its quarterly 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 the consensus estimate of $1.90 million. On average, equities analysts forecast that Skeena Resources Limited will post -0.98 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, TD Securities began coverage on shares of Skeena Resources in a report on Tuesday, August 12th. They issued a "buy" rating on the stock. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat, the company currently 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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