The Manufacturers Life Insurance Company Takes Position in Skeena Resources Limited $SKE

Key Points

• The Manufacturers Life Insurance Company acquired 166,174 Skeena Resources shares worth approximately $4.42 million, representing about 0.13% of the company. Institutional investors collectively own 45.15% of the stock.
• Skeena Resources shares opened at $32.59, with a market capitalization of approximately $4.06 billion and a 12-month trading range of $15.43 to $38.77.
• The company reported a quarterly loss of $0.21 per share, missing analysts’ estimate of a $0.11 loss. Analyst sentiment remains mixed but averages to a “Moderate Buy” rating.

The Manufacturers Life Insurance Company acquired a new position in shares of Skeena Resources Limited (NYSE:SKE - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 166,174 shares of the company's stock, valued at approximately $4,420,000. The Manufacturers Life Insurance Company owned about 0.13% of Skeena Resources as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its stake in Skeena Resources by 41.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company's stock valued at $37,000 after acquiring an additional 455 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Skeena Resources in the 4th quarter worth about $43,000. PNC Financial Services Group Inc. boosted its holdings in shares of Skeena Resources by 431.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company's stock worth $44,000 after purchasing an additional 1,940 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Skeena Resources during the 4th quarter valued at about $45,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Skeena Resources during the 1st quarter valued at about $89,000. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

Skeena Resources Stock Performance

Skeena Resources stock opened at $32.59 on Tuesday. The firm has a fifty day simple moving average of $29.29 and a two-hundred day simple moving average of $30.41. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 5.66. Skeena Resources Limited has a twelve month low of $15.43 and a twelve month high of $38.77. The company has a market capitalization of $4.06 billion, a PE ratio of -21.73 and a beta of 1.14.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.10). Research analysts expect that Skeena Resources Limited will post -1.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Weiss Ratings restated a "sell (d-)" rating on shares of Skeena Resources in a research report on Friday, July 17th. Zacks Research upgraded shares of Skeena Resources from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Finally, Wall Street Zen raised shares of Skeena Resources from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Skeena Resources has an average rating of "Moderate 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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