Groupe la Francaise Cuts Position in Skeena Resources Limited $SKE

Key Points

• Groupe la Francaise reduced its stake in Skeena Resources by 12.5%, selling 50,000 shares, leaving it with 350,000 shares valued at $3.6 million.
• Several institutional investors, including Helikon Investments and Jupiter Asset Management, increased their stakes in Skeena by over 28% during the first quarter of 2023.
• Skeena Resources' stock saw a 1.4% increase, with a current market capitalization of approximately $1.75 billion and a recent EPS report showing a loss of $0.03.

Groupe la Francaise reduced its holdings in Skeena Resources Limited (NYSE:SKE - Free Report) by 12.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,000 shares of the company's stock after selling 50,000 shares during the period. Groupe la Francaise owned approximately 0.31% of Skeena Resources worth $3,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Legal & General Group Plc raised its stake in Skeena Resources by 12.0% during the fourth quarter. Legal & General Group Plc now owns 78,672 shares of the company's stock worth $684,000 after purchasing an additional 8,428 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Skeena Resources in the 4th quarter valued at approximately $1,342,000. Tower Research Capital LLC TRC raised its stake in shares of Skeena Resources by 2,067.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company's stock valued at $51,000 after acquiring an additional 5,541 shares during the period. Aquatic Capital Management LLC purchased a new stake in shares of Skeena Resources in the 4th quarter valued at approximately $89,000. Finally, NewGen Asset Management Ltd raised its stake in shares of Skeena Resources by 10.0% in the 4th quarter. NewGen Asset Management Ltd now owns 220,000 shares of the company's stock valued at $1,911,000 after acquiring an additional 20,000 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 firms have recently issued reports on SKE. TD Securities began coverage on shares of Skeena Resources in a research note on Tuesday, August 12th. They issued a "buy" rating on the stock. Wall Street Zen downgraded shares of Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, CIBC reissued an "outperform" rating on shares of Skeena Resources in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy".

Skeena Resources Price Performance

Shares of SKE stock traded up $1.07 during trading on Friday, reaching $16.70. The company's stock had a trading volume of 354,024 shares, compared to its average volume of 415,042. Skeena Resources Limited has a 1-year low of $7.22 and a 1-year high of $17.25. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -15.31 and a beta of 1.24. The stock's 50-day moving average price is $15.56 and its 200 day moving average price is $12.87.

Skeena Resources (NYSE:SKE - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.01). The business had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.90 million. On average, sell-side analysts anticipate that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

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.