Skeena Resources Limited $SKE Shares Sold by Groupe la Francaise

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 trimmed its stake in Skeena Resources Limited (NYSE:SKE - Free Report) by 12.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 350,000 shares of the company's stock after selling 50,000 shares during the quarter. Groupe la Francaise owned approximately 0.31% of Skeena Resources worth $3,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SKE. Helikon Investments Ltd grew its position in Skeena Resources by 33.4% during the 1st quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock worth $120,246,000 after purchasing an additional 2,986,891 shares in the last quarter. Jupiter Asset Management Ltd. boosted its position in shares of Skeena Resources by 28.4% in the first quarter. Jupiter Asset Management Ltd. now owns 1,616,139 shares of the company's stock worth $16,293,000 after buying an additional 357,146 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Skeena Resources by 31.8% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock worth $15,370,000 after buying an additional 367,300 shares during the period. TD Asset Management Inc boosted its position in shares of Skeena Resources by 28.9% in the first quarter. TD Asset Management Inc now owns 1,285,382 shares of the company's stock worth $12,959,000 after buying an additional 288,312 shares during the period. Finally, Bornite Capital Management LP acquired a new stake in shares of Skeena Resources in the first quarter worth $9,581,000. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

Skeena Resources Stock Up 1.4%

Shares of NYSE:SKE opened at $15.2840 on Friday. The firm has a market capitalization of $1.75 billion, a P/E ratio of -14.02 and a beta of 1.24. The firm has a fifty day moving average of $15.48 and a two-hundred day moving average of $12.76. Skeena Resources Limited has a 12-month low of $7.22 and a 12-month high of $17.25.

Skeena Resources (NYSE:SKE - Get Free Report) last announced 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 company had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.90 million. Equities research analysts expect that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd. Wall Street Zen cut Skeena Resources from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, TD Securities initiated coverage on Skeena Resources in a research report on Tuesday, August 12th. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy".

Skeena Resources 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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