Bornite Capital Management LP Invests $12.42 Million in Skeena Resources Limited $SKE

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

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Skeena Resources during the fourth quarter worth about $43,000. PNC Financial Services Group Inc. raised its position in shares of Skeena Resources by 431.1% during 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 shares of Skeena Resources during the fourth quarter worth about $98,000. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Skeena Resources during the fourth quarter worth about $119,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Skeena Resources during the third quarter worth about $99,000. Institutional investors and hedge funds own 45.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SKE shares. Wall Street Zen lowered Skeena Resources from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a research report on Monday, April 20th. 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Skeena Resources Stock Performance

Shares of Skeena Resources stock opened at $28.07 on Friday. The business’s 50 day simple moving average is $30.50 and its 200 day simple moving average is $29.03. Skeena Resources Limited has a 52-week low of $13.81 and a 52-week high of $38.77. The firm has a market cap of $3.42 billion, a PE ratio of -18.59 and a beta of 1.11.

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.