Tidal Investments LLC Buys 42,436 Shares of Skeena Resources Limited $SKE

Key Points

• Tidal Investments increased its Skeena Resources stake by 67.1% in the second quarter, purchasing 42,436 additional shares for a total of 105,707 shares valued at approximately $2.8 million.
• Institutional investors own 45.15% of Skeena Resources, while analyst sentiment is mixed but averages a “Moderate Buy” rating based on MarketBeat data.
• Skeena reported a quarterly loss of $0.21 per share, missing the $0.11 loss consensus estimate; the stock opened at $30.64 and has traded between $15.43 and $38.77 over the past year.

Tidal Investments LLC boosted its stake in shares of Skeena Resources Limited (NYSE:SKE - Free Report) by 67.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 105,707 shares of the company's stock after purchasing an additional 42,436 shares during the period. Tidal Investments LLC owned 0.08% of Skeena Resources worth $2,818,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Grand Central Investment Group raised its stake in shares of Skeena Resources by 2.9% during the 1st quarter. Grand Central Investment Group now owns 12,958 shares of the company's stock worth $385,000 after purchasing an additional 364 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of 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 buying an additional 455 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in Skeena Resources by 5.1% during the first quarter. Pictet Asset Management Holding SA now owns 16,047 shares of the company's stock worth $476,000 after buying an additional 776 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Skeena Resources during the second quarter worth $37,000. Finally, Fortitude Advisory Group L.L.C. raised its position in Skeena Resources by 8.1% during the fourth quarter. Fortitude Advisory Group L.L.C. now owns 59,000 shares of the company's stock worth $1,400,000 after acquiring an additional 4,410 shares in the last quarter. 45.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Skeena Resources Stock Performance

SKE opened at $30.64 on Wednesday. The business has a fifty day simple moving average of $30.36 and a 200 day simple moving average of $30.26. The company has a market capitalization of $3.84 billion, a PE ratio of -20.42 and a beta of 1.16. Skeena Resources Limited has a 1 year low of $15.43 and a 1 year high of $38.77. The company has a debt-to-equity ratio of 5.66, a current ratio of 3.15 and a quick ratio of 3.15.

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

Skeena Resources Profile

Skeena Resources Limited is a Canadian mineral exploration and development company focused on advancing precious-metals projects in British Columbia's Golden Triangle. The company is not currently a producing mining company and is primarily engaged in exploration, project evaluation, permitting, engineering and mine-development activities.

Skeena's principal asset is the Eskay Creek gold-silver project, a past-producing mine that operated in northwestern British Columbia during the 1990s and 2000s.

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