Forge First Asset Management Inc. Invests $7.37 Million in Skeena Resources Limited $SKE

Forge First Asset Management Inc. purchased a new position in shares of Skeena Resources Limited (NYSE:SKE) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 400,000 shares of the company’s stock, valued at approximately $7,370,000. Skeena Resources comprises approximately 3.4% of Forge First Asset Management Inc.’s portfolio, making the stock its 11th largest position. Forge First Asset Management Inc. owned about 0.33% of Skeena Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Skeena Resources by 28.8% in the second quarter. JPMorgan Chase & Co. now owns 985,495 shares of the company’s stock worth $15,689,000 after purchasing an additional 220,334 shares in the last quarter. Intact Investment Management Inc. bought a new position in shares of Skeena Resources in the third quarter valued at about $1,597,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Skeena Resources by 24.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 757,000 shares of the company’s stock valued at $13,938,000 after buying an additional 150,000 shares during the last quarter. Amundi lifted its position in Skeena Resources by 43.4% during the 2nd quarter. Amundi now owns 2,258,524 shares of the company’s stock worth $35,640,000 after buying an additional 683,524 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in Skeena Resources by 941.8% during the 3rd quarter. CIBC Asset Management Inc now owns 106,114 shares of the company’s stock worth $1,952,000 after acquiring an additional 95,928 shares during the last quarter. 45.15% of the stock is owned by institutional investors and hedge funds.

Skeena Resources Price Performance

Shares of NYSE:SKE opened at $37.44 on Friday. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -51.29 and a beta of 1.22. The company has a 50 day moving average of $29.27 and a 200-day moving average of $22.06. Skeena Resources Limited has a one year low of $8.53 and a one year high of $37.53.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Skeena Resources in a research note on Monday, January 26th. Wall Street Zen raised shares of Skeena Resources from a “sell” rating to a “hold” rating in a research note on Sunday, January 25th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Skeena Resources in a research report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Skeena Resources in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from 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.