523,000 Shares in Skeena Resources Limited $SKE Purchased by Bornite Capital Management LP

Bornite Capital Management LP acquired a new position in Skeena Resources Limited (NYSE:SKE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 523,000 shares of the company’s stock, valued at approximately $12,423,000. Skeena Resources accounts for approximately 1.2% of Bornite Capital Management LP’s investment portfolio, making the stock its 22nd biggest position. Bornite Capital Management LP owned approximately 0.43% of Skeena Resources as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Skeena Resources in the fourth quarter worth about $43,000. PNC Financial Services Group Inc. increased its position in Skeena Resources by 431.1% in the third 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 during the period. Kestra Advisory Services LLC acquired a new stake in Skeena Resources in the fourth quarter worth about $98,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Skeena Resources in the fourth quarter worth about $119,000. Finally, Advisory Services Network LLC acquired a new stake in Skeena Resources in the third quarter worth about $99,000. 45.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Skeena Resources in a report on Monday, April 20th. Wall Street Zen cut Skeena Resources from a “hold” rating to a “sell” rating in a report on Saturday, March 28th. One equities 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 company. Based on data from MarketBeat.com, Skeena Resources currently has a consensus rating of “Moderate Buy”.

Skeena Resources Trading Up 7.7%

Shares of SKE opened at $28.07 on Friday. Skeena Resources Limited has a 1 year low of $13.81 and a 1 year high of $38.77. The stock has a market cap of $3.42 billion, a P/E ratio of -18.59 and a beta of 1.11. The stock’s 50-day moving average price is $30.50 and its two-hundred day moving average price is $29.03.

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.