Skeena Resources Limited (NYSE:SKE) Stake Lessened by Franklin Resources Inc.

Franklin Resources Inc. lessened its position in Skeena Resources Limited (NYSE:SKE - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,997,150 shares of the company's stock after selling 422,000 shares during the period. Franklin Resources Inc. owned about 2.78% of Skeena Resources worth $26,030,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Helikon Investments Ltd lifted its position in Skeena Resources by 316.1% during the fourth quarter. Helikon Investments Ltd now owns 8,930,424 shares of the company's stock worth $77,873,000 after buying an additional 6,784,027 shares during the period. Amundi lifted its holdings in shares of Skeena Resources by 9.8% during the 4th quarter. Amundi now owns 1,219,300 shares of the company's stock worth $11,632,000 after acquiring an additional 109,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Skeena Resources by 5.6% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,156,738 shares of the company's stock worth $10,046,000 after acquiring an additional 60,838 shares during the last quarter. Sprott Inc. boosted its position in shares of Skeena Resources by 5.1% in the fourth quarter. Sprott Inc. now owns 1,109,950 shares of the company's stock worth $9,674,000 after acquiring an additional 54,242 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new stake in Skeena Resources in the fourth quarter valued at approximately $4,549,000. Hedge funds and other institutional investors own 45.15% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James reiterated a "strong-buy" rating on shares of Skeena Resources in a report on Friday, April 4th.

Skeena Resources Price Performance

SKE stock traded up $1.19 during midday trading on Friday, reaching $11.34. 791,081 shares of the company's stock traded hands, compared to its average volume of 368,305. Skeena Resources Limited has a fifty-two week low of $4.10 and a fifty-two week high of $11.74. The business has a 50-day moving average price of $10.17 and a two-hundred day moving average price of $9.54. The company has a market capitalization of $1.29 billion, a P/E ratio of -8.28 and a beta of 1.22.

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.