Royal Bank of Canada Raises Stock Holdings in Skeena Resources Limited $SKE

Royal Bank of Canada lifted its holdings in shares of Skeena Resources Limited (NYSE:SKE) by 4.5% in the 1st quarter, Holdings Channel reports. The firm owned 1,291,911 shares of the company’s stock after acquiring an additional 55,463 shares during the period. Royal Bank of Canada’s holdings in Skeena Resources were worth $38,395,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new position in Skeena Resources in the 1st quarter worth approximately $89,000. Goldman Sachs Group Inc. raised its position in shares of Skeena Resources by 174.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 314,370 shares of the company’s stock valued at $3,172,000 after buying an additional 199,654 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Skeena Resources by 4.3% during the 2nd quarter. Geode Capital Management LLC now owns 45,364 shares of the company’s stock worth $719,000 after acquiring an additional 1,881 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Skeena Resources by 5.2% during the 2nd quarter. Legal & General Group Plc now owns 81,489 shares of the company’s stock worth $1,294,000 after acquiring an additional 4,037 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in Skeena Resources in the second quarter worth $191,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SKE. Zacks Research cut Skeena Resources from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Skeena Resources Stock Performance

Shares of SKE opened at $27.14 on Tuesday. Skeena Resources Limited has a fifty-two week low of $14.53 and a fifty-two week high of $38.77. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of -17.97 and a beta of 1.14. The firm has a 50 day moving average price of $27.51 and a 200-day moving average price of $30.05.

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.