Cibc World Market Inc. Buys 19,517 Shares of Skeena Resources Limited $SKE

Cibc World Market Inc. grew its stake in Skeena Resources Limited (NYSE:SKE) by 51.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,483 shares of the company’s stock after acquiring an additional 19,517 shares during the period. Cibc World Market Inc.’s holdings in Skeena Resources were worth $1,365,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in 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 acquiring an additional 1,940 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Skeena Resources in the 4th quarter worth about $119,000. Advisory Services Network LLC bought a new position in Skeena Resources in the 3rd quarter worth about $99,000. Murphy Pohlad Asset Management LLC bought a new position in Skeena Resources in the 4th quarter worth about $206,000. Finally, Cubist Systematic Strategies LLC bought a new position in Skeena Resources in the 1st quarter worth about $89,000. 45.15% of the stock is currently owned by institutional investors.

Skeena Resources Stock Performance

NYSE SKE opened at $26.02 on Wednesday. The firm’s 50 day moving average price is $30.68 and its 200-day moving average price is $28.93. Skeena Resources Limited has a 52-week low of $13.81 and a 52-week high of $38.77. The company has a market cap of $3.17 billion, a PE ratio of -17.23 and a beta of 1.11.

Analysts Set New Price Targets

A number of brokerages have commented on SKE. Wall Street Zen downgraded shares of Skeena Resources from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued 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.