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<h2>Key Points</h2><ul><li>Helikon Investments added 634,156 shares of Skeena Resources in the first quarter; the estimated trade value was $19.48 million based on quarterly average prices.</li><li>Meanwhile, the quarter-end position value rose by $113.66 million, reflecting both trading activity and stock price movements.</li><li>The transaction represented a 0.74% change in 13F reportable assets under management.</li><li>10 stocks we like better than Skeena Resources ›</li></ul><p>Helikon Investments increased its stake in <strong>Skeena Resources</strong> <span class="ticker">(NYSE:SKE)</span> in the first quarter, buying 634,156 shares in a trade estimated at $19.48 million based on quarterly average pricing, according to a May 8, 2026, SEC filing.</p><h2 id="what-happened">What happened</h2><p>According to a SEC filing dated May 8, 2026, Helikon Investments bought 634,156 additional shares of Skeena Resources during the first quarter. The estimated value of the transaction, based on the quarterly average share price, was $19.48 million. At quarter-end, the total position value increased by $113.66 million, a figure that reflects both the purchase and changes in the share price.</p><h2 id="what-else-to-know">What else to know</h2><ul><li>Helikon’s buy brings its SKE stake to 18.47% of reportable AUM as of March 31, 2026.</li><li>Top holdings after the filing:<ul><li>NYSE:SKE: 489.28 million (18.5% of AUM)</li><li>NYSE:AAUC: $380.93 million (14.4% of AUM)</li><li>NYSE:CAAP: $332.95 million (12.6% of AUM)</li><li>NYSEMKT:CNL: $193.35 million (7.3% of AUM)</li><li>NYSEMKT:SVM: $173.08 million (6.5% of AUM)</li></ul></li><li>As of May 7, 2026, shares of Skeena Resources were priced at $30.34, up 140% over the past year and vastly outperforming the S&amp;P 500, which is instead up about 30% in the same period.</li></ul><h2 id="company-overview">Company overview</h2><section><table><tbody><tr><th>Metric</th><th>Value</th></tr><tr><td>Price (as of market close May 8, 2026)</td><td>$30.34</td></tr><tr><td>Market Capitalization</td><td>$3.85 billion</td></tr><tr><td>Net Income (TTM)</td><td>($182.8 million)</td></tr><tr><td>One-Year Price Change</td><td>140%</td></tr></tbody></table></section><h2 id="company-snapshot">Company snapshot</h2><ul><li>Skeena Resources explores and develops mineral properties in Canada, focusing on gold, silver, and copper assets such as the Eskay Creek and Snip gold mines in British Columbia.</li><li>The company operates as a mineral exploration and development company, generating value through the advancement and potential future production of precious metal resources.</li><li>Headquartered in Vancouver, the company was formerly known as Prolific Resources Ltd. and changed its name to Skeena Resources in June 1990.</li></ul><p>Skeena Resources is a Vancouver-based mineral exploration company with a strategic focus on high-potential gold and silver projects in British Columbia. The company leverages its 100% ownership of the Eskay Creek and Snip mines to build a robust portfolio of precious metal assets. With a disciplined approach to resource development, Skeena aims to unlock value through exploration, project advancement, and potential future production, positioning itself as a key player in the Canadian mining sector.</p><h2 id="what-this-transaction-means-for-investors">What this transaction means for investors</h2><p>The magnitude of this buy and Helikon’s pre-existing stake seems like a high-conviction bet that Skeena is transitioning from a speculative mining story into a real operating asset with a clearer path to cash flow. Helikon already had major exposure to the company, but increasing the position after a 140% run suggests the fund still sees meaningful upside tied to Eskay Creek’s development timeline rather than just momentum trading.<br/><br/>That thesis has started getting more tangible. Skeena said its flagship Eskay Creek project was 49% complete as of February 28, with 66% of total project costs already contractually committed. Initial production remains on track for the second quarter of 2027. The company also disclosed that detailed engineering for the process plant is 92% complete, while procurement commitments have reached 88%.<br/><br/>Of course, there are still risks. Skeena raised its project cost estimate to $659 million from $560 million because of inflation, permitting requirements, and infrastructure upgrades. But management appears focused on derisking execution early, including securing key contracts and accelerating development ahead of final permits. Plus, the firm also completed a $750 million senior secured notes offering in April, which should offer some financial flexibility.</p><h2>Should you buy stock in Skeena Resources right now?</h2>
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<p style="color: #767676; text-align: left"><em>*Stock Advisor returns as of May 9, 2026. </em></p><p><em>Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Corporación América Airports. The Motley Fool has a disclosure policy.</em></p>
<p>The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.</p>
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<p>Helikon Investments increased its stake in Skeena Resources by purchasing 634,156 shares valued at approximately $19.48 million in Q1 2026. This acquisition raised Helikon's total position in Skeena to 18.47% of its reportable assets under management. Skeena's stock has surged 140% over the past year, significantly outperforming the S&P 500. The company is advancing its Eskay Creek project, with initial production expected in Q2 2027, despite rising project costs due to inflation and other factors. Analysts suggest caution, as Skeena was not included in a list of top stock recommendations.</p>

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