Skeena Resources Limited $SKE Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its stake in Skeena Resources by 66.8%, selling 523,800 shares and leaving it with 260,164 shares valued at approximately $2.6 million.
• Skeena Resources has received mixed ratings from analysts, with Wall Street Zen downgrading the stock to a "sell" rating while CIBC maintained an "outperform" rating and TD Securities initiated coverage with a "buy" rating.
• The company's shares are currently trading at $16.76 per share, reflecting a recent increase of 7.2%, while it has reported a quarterly earnings miss, reporting a loss of $0.03 per share against an estimate of $0.02.

Invesco Ltd. trimmed its stake in Skeena Resources Limited (NYSE:SKE - Free Report) by 66.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,164 shares of the company's stock after selling 523,800 shares during the period. Invesco Ltd. owned approximately 0.23% of Skeena Resources worth $2,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SKE. Tower Research Capital LLC TRC lifted its position in Skeena Resources by 2,067.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company's stock valued at $51,000 after purchasing an additional 5,541 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Skeena Resources during the 4th quarter valued at $89,000. Banque Cantonale Vaudoise bought a new stake in Skeena Resources in the 1st quarter worth $91,000. Mesirow Financial Investment Management Inc. purchased a new position in shares of Skeena Resources in the first quarter valued at about $101,000. Finally, Eagle Global Advisors LLC purchased a new position in shares of Skeena Resources in the fourth quarter valued at about $112,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on SKE shares. CIBC reiterated an "outperform" rating on shares of Skeena Resources in a report on Thursday, May 22nd. TD Securities began coverage on shares of Skeena Resources in a research note on Tuesday, August 12th. They set a "buy" rating on the stock. Finally, Wall Street Zen cut shares of Skeena Resources from a "hold" rating to a "sell" rating in a research report 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. According to MarketBeat, the stock has a consensus rating of "Buy".

Skeena Resources Price Performance

NYSE SKE traded down $0.14 during mid-day trading on Wednesday, hitting $17.18. The stock had a trading volume of 232,677 shares, compared to its average volume of 417,978. Skeena Resources Limited has a twelve month low of $7.22 and a twelve month high of $17.65. The firm's 50 day moving average is $15.65 and its 200 day moving average is $13.01. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -15.78 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) 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 analyst estimates of $1.90 million. As a group, equities research analysts expect that Skeena Resources Limited will post -0.98 earnings per share for the current 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.