Van ECK Associates Corp Acquires 670,200 Shares of Skeena Resources Limited $SKE

Van ECK Associates Corp lifted its position in Skeena Resources Limited (NYSE:SKE) by 16.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,741,607 shares of the company’s stock after acquiring an additional 670,200 shares during the quarter. Van ECK Associates Corp’s holdings in Skeena Resources were worth $87,404,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in shares of Skeena Resources by 431.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company’s stock valued at $44,000 after buying an additional 1,940 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Skeena Resources in the first quarter valued at about $89,000. Cutler Capital Management LLC purchased a new position in Skeena Resources during the second quarter valued at approximately $167,000. XTX Topco Ltd purchased a new stake in shares of Skeena Resources during the second quarter valued at about $191,000. Finally, Quantbot Technologies LP boosted its stake in Skeena Resources by 40.5% in the second quarter. Quantbot Technologies LP now owns 13,077 shares of the company’s stock valued at $208,000 after acquiring an additional 3,767 shares in the last quarter. Hedge funds and other institutional investors own 45.15% of the company’s stock.

Skeena Resources Stock Up 2.1%

Skeena Resources stock opened at $34.20 on Wednesday. Skeena Resources Limited has a 52-week low of $8.53 and a 52-week high of $38.77. The firm has a market cap of $4.15 billion, a PE ratio of -46.85 and a beta of 1.17. The company’s 50 day moving average is $30.98 and its two-hundred day moving average is $23.26.

Wall Street Analyst Weigh In

SKE has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. Wall Street Zen upgraded shares of Skeena Resources from a “sell” rating to a “hold” rating in a research report on Sunday, January 25th. Scotiabank reiterated an “outperform” rating on shares of Skeena Resources in a research report on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Skeena Resources in a report on Wednesday, February 4th. One equities 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 company’s stock. According to 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.