CIBC Asset Management Inc Buys 95,928 Shares of Skeena Resources Limited $SKE

CIBC Asset Management Inc increased its position in Skeena Resources Limited (NYSE:SKE) by 941.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,114 shares of the company’s stock after acquiring an additional 95,928 shares during the quarter. CIBC Asset Management Inc owned about 0.09% of Skeena Resources worth $1,952,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Skeena Resources during the 1st quarter valued at $89,000. Cutler Capital Management LLC bought a new stake in Skeena Resources during the second quarter valued at about $167,000. XTX Topco Ltd purchased a new position in shares of Skeena Resources in the second quarter valued at about $191,000. Fortitude Advisory Group L.L.C. bought a new position in shares of Skeena Resources in the second quarter worth about $194,000. Finally, Quantbot Technologies LP grew its position in shares of Skeena Resources by 40.5% during the second quarter. Quantbot Technologies LP now owns 13,077 shares of the company’s stock worth $208,000 after purchasing an additional 3,767 shares in the last quarter. Hedge funds and other institutional investors own 45.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wall Street Zen raised Skeena Resources from a “sell” rating to a “hold” rating in a report on Sunday. Raymond James Financial reissued a “strong-buy” rating on shares of Skeena Resources in a report on Friday, October 10th. Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research note on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Skeena Resources in a research note on Wednesday, January 21st. Finally, Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research report on Wednesday, October 8th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Up 4.8%

Shares of NYSE:SKE opened at $34.99 on Thursday. The firm has a fifty day simple moving average of $24.55 and a two-hundred day simple moving average of $19.56. The stock has a market capitalization of $4.24 billion, a P/E ratio of -47.93 and a beta of 1.22. Skeena Resources Limited has a 52 week low of $8.53 and a 52 week high of $35.19.

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

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.