Short Interest in Skeena Resources Limited (NYSE:SKE) Increases By 26.7%

Skeena Resources Limited (NYSE:SKE) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 4,840,000 shares, an increase of 26.7% from the October 31st total of 3,820,000 shares. Based on an average daily trading volume, of 345,200 shares, the days-to-cover ratio is currently 14.0 days. Approximately 6.2% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Skeena Resources Price Performance

Shares of SKE stock traded down $0.11 on Monday, hitting $9.17. 331,948 shares of the company’s stock were exchanged, compared to its average volume of 313,531. Skeena Resources has a 12 month low of $3.29 and a 12 month high of $10.33. The stock has a market cap of $983.99 million, a P/E ratio of -6.69 and a beta of 1.33. The company has a 50 day moving average of $9.01 and a 200 day moving average of $7.22.

Hedge Funds Weigh In On Skeena Resources

Several large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Skeena Resources in the third quarter valued at about $43,000. Dynamic Technology Lab Private Ltd bought a new position in Skeena Resources in the third quarter valued at about $93,000. Pinnacle Wealth Management Group Inc. bought a new position in shares of Skeena Resources during the third quarter worth about $110,000. Virtu Financial LLC bought a new position in shares of Skeena Resources during the third quarter worth about $113,000. Finally, Barclays PLC raised its position in shares of Skeena Resources by 130.6% during the third quarter. Barclays PLC now owns 29,696 shares of the company’s stock worth $251,000 after acquiring an additional 16,819 shares during the last quarter. 45.15% of the stock is currently owned by institutional investors.

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.