Invesco Ltd. Sells 523,800 Shares of Skeena Resources Limited $SKE

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. lowered its position in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 66.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,164 shares of the company's stock after selling 523,800 shares during the quarter. Invesco Ltd. owned 0.23% of Skeena Resources worth $2,625,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Helikon Investments Ltd lifted its position in Skeena Resources by 33.4% in the 1st quarter. Helikon Investments Ltd now owns 11,917,315 shares of the company's stock worth $120,246,000 after buying an additional 2,986,891 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Skeena Resources by 31.8% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,524,038 shares of the company's stock valued at $15,370,000 after buying an additional 367,300 shares during the last quarter. PCJ Investment Counsel Ltd. boosted its holdings in Skeena Resources by 4.7% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 146,260 shares of the company's stock valued at $1,475,000 after purchasing an additional 6,630 shares during the period. National Bank of Canada FI boosted its holdings in Skeena Resources by 12.3% in the 1st quarter. National Bank of Canada FI now owns 54,750 shares of the company's stock valued at $548,000 after purchasing an additional 5,979 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Skeena Resources by 49.4% in the 1st quarter. Deutsche Bank AG now owns 221,443 shares of the company's stock valued at $2,234,000 after purchasing an additional 73,215 shares during the period. Institutional investors and hedge funds own 45.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. CIBC reaffirmed an "outperform" rating on shares of Skeena Resources in a report on Thursday, May 22nd. TD Securities assumed coverage on shares of Skeena Resources in a report on Tuesday, August 12th. They set a "buy" rating for the company. Finally, Wall Street Zen downgraded shares of Skeena Resources from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy".

Skeena Resources Trading Down 2.1%

Shares of NYSE:SKE traded down $0.36 during trading on Thursday, hitting $16.78. 456,367 shares of the company's stock were exchanged, compared to its average volume of 395,342. Skeena Resources Limited has a 1-year low of $7.32 and a 1-year high of $17.65. The firm has a 50-day moving average price of $15.72 and a two-hundred day moving average price of $13.08. The firm has a market cap of $1.93 billion, a P/E ratio of -15.39 and a beta of 1.26.

Skeena Resources (NYSE:SKE - Get Free Report) last issued 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 firm had revenue of $1.90 million for the quarter, compared to the consensus estimate of $1.90 million. As a group, research analysts predict that Skeena Resources Limited will post -0.98 EPS 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.