Skeena Resources Limited $SKE Shares Sold by Amundi

Key Points

• Amundi reduced its Skeena Resources stake by 18.5% in the first quarter, selling 470,060 shares and retaining 2.07 million shares worth approximately $61.4 million, or 1.7% of the company.
• Other institutional investors, including UBS Group, Intact Investment Management, Pekin Hardy Strauss and TD Asset Management, increased their holdings. Institutional investors and hedge funds collectively own 45.15% of Skeena’s shares.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating. Skeena shares opened at $26.54, compared with a 52-week range of $13.81 to $38.77.

Amundi trimmed its stake in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 18.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,066,078 shares of the company's stock after selling 470,060 shares during the quarter. Amundi owned about 1.70% of Skeena Resources worth $61,404,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Caprock Group LLC acquired a new stake in Skeena Resources in the fourth quarter worth approximately $2,956,000. UBS Group AG increased its position in shares of Skeena Resources by 25.4% during the 4th quarter. UBS Group AG now owns 1,290,071 shares of the company's stock valued at $30,613,000 after purchasing an additional 260,954 shares during the period. Intact Investment Management Inc. increased its position in shares of Skeena Resources by 81.3% during the 4th quarter. Intact Investment Management Inc. now owns 157,200 shares of the company's stock valued at $3,734,000 after purchasing an additional 70,500 shares during the period. Pekin Hardy Strauss Inc. increased its position in shares of Skeena Resources by 26.7% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 224,073 shares of the company's stock valued at $5,330,000 after purchasing an additional 47,150 shares during the period. Finally, TD Asset Management Inc raised its stake in shares of Skeena Resources by 1.7% in the 4th quarter. TD Asset Management Inc now owns 1,510,392 shares of the company's stock worth $35,921,000 after buying an additional 25,483 shares in the last quarter. 45.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SKE has been the subject of several research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Skeena Resources in a report 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 investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Skeena Resources Price Performance

Skeena Resources stock opened at $26.54 on Monday. Skeena Resources Limited has a fifty-two week low of $13.81 and a fifty-two week high of $38.77. The firm's 50 day simple moving average is $27.53 and its 200-day simple moving average is $30.04. The company has a market cap of $3.30 billion, a P/E ratio of -17.58 and a beta of 1.14.

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.

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