Skeena Resources (NYSE:SKE) Shares Gap Down – Should You Sell?

Skeena Resources Limited (NYSE:SKE) gapped down prior to trading on Wednesday . The stock had previously closed at $10.92, but opened at $10.45. Skeena Resources shares last traded at $10.39, with a volume of 60,731 shares traded.

Analysts Set New Price Targets

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

Skeena Resources Trading Down 6.1 %

The firm’s 50-day simple moving average is $9.74 and its 200 day simple moving average is $8.94. The stock has a market cap of $1.10 billion, a P/E ratio of -7.49 and a beta of 1.29.

Institutional Trading of Skeena Resources

Hedge funds have recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Skeena Resources during the fourth quarter valued at $31,000. FNY Investment Advisers LLC increased its stake in Skeena Resources by 2,252.9% during the 4th quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company’s stock valued at $34,000 after buying an additional 3,830 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Skeena Resources during the 3rd quarter worth about $43,000. Tower Research Capital LLC TRC lifted its stake in shares of Skeena Resources by 2,067.5% in the 4th quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company’s stock worth $51,000 after acquiring an additional 5,541 shares during the period. Finally, Aquatic Capital Management LLC bought a new position in shares of Skeena Resources in the fourth quarter valued at approximately $89,000. 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.