Hudson Bay Capital Management LP Reduces Stock Position in Skeena Resources Limited $SKE

Hudson Bay Capital Management LP decreased its position in shares of Skeena Resources Limited (NYSE:SKE) by 36.6% during the third quarter, HoldingsChannel reports. The fund owned 60,295 shares of the company’s stock after selling 34,747 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Skeena Resources were worth $1,111,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SKE. Royal Bank of Canada increased its holdings in Skeena Resources by 849.9% during the first quarter. Royal Bank of Canada now owns 401,729 shares of the company’s stock valued at $4,053,000 after buying an additional 359,438 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Skeena Resources in the 1st quarter valued at $89,000. Goldman Sachs Group Inc. raised its stake in shares of Skeena Resources by 174.0% in the first quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company’s stock worth $3,172,000 after purchasing an additional 199,654 shares during the last quarter. Geode Capital Management LLC lifted its stake in Skeena Resources by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock valued at $719,000 after acquiring an additional 1,881 shares during the period. Finally, TD Waterhouse Canada Inc. acquired a new stake in Skeena Resources during the 2nd quarter worth about $634,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

Skeena Resources Stock Performance

Shares of NYSE SKE opened at $26.22 on Monday. The company’s fifty day moving average is $31.83 and its two-hundred day moving average is $24.02. Skeena Resources Limited has a one year low of $8.53 and a one year high of $38.77. The firm has a market capitalization of $3.18 billion, a P/E ratio of -35.92 and a beta of 1.16.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a report on Monday, January 26th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Skeena Resources in a research note on Wednesday, February 4th. Wall Street Zen raised Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

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.