Van ECK Associates Corp Has $42.41 Million Stock Holdings in Skeena Resources Limited (NYSE:SKE)

Van ECK Associates Corp increased its stake in shares of Skeena Resources Limited (NYSE:SKE) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,012,498 shares of the company’s stock after buying an additional 693,745 shares during the period. Van ECK Associates Corp owned 4.70% of Skeena Resources worth $42,406,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Pinnacle Wealth Management Group Inc. acquired a new position in shares of Skeena Resources during the third quarter worth approximately $110,000. Mackenzie Financial Corp acquired a new position in Skeena Resources during the 2nd quarter worth $179,000. Nokomis Capital L.L.C. bought a new position in Skeena Resources in the 1st quarter valued at $155,000. Knoll Capital Management LLC bought a new position in Skeena Resources in the 1st quarter valued at $179,000. Finally, Bank of Montreal Can increased its stake in shares of Skeena Resources by 16.6% in the 2nd quarter. Bank of Montreal Can now owns 313,185 shares of the company’s stock valued at $1,681,000 after buying an additional 44,519 shares during the period. Institutional investors own 45.15% of the company’s stock.

Skeena Resources Price Performance

SKE opened at $9.60 on Monday. The firm has a 50 day simple moving average of $8.73 and a 200 day simple moving average of $6.64. Skeena Resources Limited has a fifty-two week low of $3.05 and a fifty-two week high of $10.33. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -8.57 and a beta of 1.33.

Skeena Resources (NYSE:SKE) last issued its earnings results on Thursday, August 8th. The company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.22). As a group, analysts expect that Skeena Resources Limited will post -0.8 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Desjardins upgraded Skeena Resources to a “moderate buy” rating in a report on Thursday.

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.