Skeena Resources (NYSE:SKE) Trading Up 9.4% – What’s Next?

Skeena Resources Limited (NYSE:SKE) was up 9.4% during trading on Wednesday . The company traded as high as $11.04 and last traded at $11.25. Approximately 39,333 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 239,671 shares. The stock had previously closed at $10.28.

Analysts Set New Price Targets

Separately, Desjardins upgraded Skeena Resources to a “moderate buy” rating in a research report on Thursday, October 31st.

Skeena Resources Price Performance

The stock has a 50-day moving average of $9.38 and a 200 day moving average of $8.61. The company has a market cap of $1.24 billion, a P/E ratio of -8.38 and a beta of 1.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Helikon Investments Ltd boosted its stake in shares of Skeena Resources by 316.1% during the fourth quarter. Helikon Investments Ltd now owns 8,930,424 shares of the company’s stock valued at $77,873,000 after purchasing an additional 6,784,027 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Skeena Resources by 207.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,095,900 shares of the company’s stock valued at $9,309,000 after purchasing an additional 739,550 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Skeena Resources by 16.1% during the third quarter. Van ECK Associates Corp now owns 5,012,498 shares of the company’s stock valued at $42,406,000 after purchasing an additional 693,745 shares in the last quarter. Knoll Capital Management LLC boosted its stake in shares of Skeena Resources by 713.2% during the third quarter. Knoll Capital Management LLC now owns 315,400 shares of the company’s stock valued at $2,668,000 after purchasing an additional 276,614 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Skeena Resources by 318.8% during the second quarter. Marshall Wace LLP now owns 172,952 shares of the company’s stock valued at $929,000 after purchasing an additional 131,657 shares in the last quarter. Institutional investors own 45.15% of the company’s stock.

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.