Sprott Inc. Cuts Stake in Skeena Resources Limited $SKE

Key Points

• Sprott Inc. has reduced its stake in Skeena Resources Limited by 3.0%, selling 33,584 shares, and now holds approximately 0.94% of the company worth around $10.86 million.
• Skeena Resources reported a quarterly loss of ($0.03) earnings per share, missing the consensus estimate by ($0.01), despite matching revenue expectations of $1.90 million.
• Analyst ratings for Skeena Resources include one Strong Buy and two Buy ratings, with CIBC reaffirming an "outperform" rating, reflecting a generally positive outlook amidst mixed performance.

Sprott Inc. trimmed its holdings in Skeena Resources Limited (NYSE:SKE - Free Report) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,076,366 shares of the company's stock after selling 33,584 shares during the period. Sprott Inc. owned 0.94% of Skeena Resources worth $10,859,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its stake in 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 last quarter. Northwest & Ethical Investments L.P. acquired a new stake in Skeena Resources in the 1st quarter valued at about $77,000. Banque Cantonale Vaudoise acquired a new stake in Skeena Resources in the 1st quarter valued at about $91,000. Mesirow Financial Investment Management Inc. acquired a new stake in Skeena Resources in the 1st quarter valued at about $101,000. Finally, Aquatic Capital Management LLC acquired a new stake in Skeena Resources in the 4th quarter valued at about $89,000. 45.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SKE has been the topic of a number of research reports. Wall Street Zen cut shares of Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. TD Securities started coverage on shares of Skeena Resources in a research note on Tuesday, August 12th. They issued a "buy" rating on the stock. Finally, CIBC reaffirmed 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy".

Skeena Resources Trading Up 1.4%

Shares of Skeena Resources stock traded up $0.2040 during mid-day trading on Friday, hitting $15.2840. 440,184 shares of the stock were exchanged, compared to its average volume of 418,082. Skeena Resources Limited has a twelve month low of $7.22 and a twelve month high of $17.25. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -14.02 and a beta of 1.24. The company has a 50-day simple moving average of $15.48 and a 200 day simple moving average of $12.77.

Skeena Resources (NYSE:SKE - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported ($0.03) earnings per share (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. Equities research analysts forecast that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

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.