CIBC Asset Management Inc Raises Stock Holdings in Skeena Resources Limited $SKE

CIBC Asset Management Inc boosted its holdings in shares of Skeena Resources Limited (NYSE:SKE) by 941.8% in the third quarter, Holdings Channel.com reports. The fund owned 106,114 shares of the company’s stock after acquiring an additional 95,928 shares during the quarter. CIBC Asset Management Inc’s holdings in Skeena Resources were worth $1,952,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kiker Wealth Management LLC bought a new stake in shares of Skeena Resources during the third quarter worth $246,000. Allspring Global Investments Holdings LLC lifted its holdings in Skeena Resources by 24.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 757,000 shares of the company’s stock valued at $13,938,000 after buying an additional 150,000 shares in the last quarter. Osaic Holdings Inc. lifted its holdings in Skeena Resources by 16,173.0% during the 2nd quarter. Osaic Holdings Inc. now owns 16,273 shares of the company’s stock valued at $258,000 after buying an additional 16,173 shares in the last quarter. Marex Group plc bought a new position in Skeena Resources in the second quarter worth approximately $1,194,000. Finally, Vident Advisory LLC purchased a new position in Skeena Resources during the 2nd quarter worth $539,000. Hedge funds and other institutional investors own 45.15% of the company’s stock.

Skeena Resources Stock Performance

Shares of Skeena Resources stock opened at $34.99 on Thursday. The company has a market capitalization of $4.24 billion, a PE ratio of -47.93 and a beta of 1.22. The company has a 50-day simple moving average of $24.55 and a two-hundred day simple moving average of $19.56. Skeena Resources Limited has a one year low of $8.53 and a one year high of $35.19.

Skeena Resources (NYSE:SKE) last released its quarterly earnings results on Thursday, November 13th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). On average, equities analysts predict that Skeena Resources Limited will post -0.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SKE has been the subject of several research reports. Desjardins upgraded Skeena Resources to a “moderate buy” rating in a report on Wednesday, October 8th. Scotiabank restated an “outperform” rating on shares of Skeena Resources in a report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. Wall Street Zen raised shares of Skeena Resources from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of Skeena Resources in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

About Skeena Resources

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.