Skeena Resources (NYSE:SKE) Trading Up 5.3% – Here’s What Happened

Skeena Resources Limited (NYSE:SKE)’s stock price shot up 5.3% during trading on Tuesday . The stock traded as high as $9.95 and last traded at $9.87. 60,912 shares traded hands during trading, a decline of 66% from the average session volume of 179,287 shares. The stock had previously closed at $9.37.

Analyst Upgrades and Downgrades

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

Skeena Resources Stock Up 0.2 %

The company has a 50 day moving average of $9.06 and a two-hundred day moving average of $8.09. The firm has a market cap of $1.03 billion, a P/E ratio of -6.98 and a beta of 1.27.

Hedge Funds Weigh In On Skeena Resources

Large investors have recently made changes to their positions in the business. TD Asset Management Inc acquired a new position in shares of Skeena Resources in the 2nd quarter worth $405,000. Goehring & Rozencwajg Associates LLC raised its position in Skeena Resources by 22.8% during the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,470,600 shares of the company’s stock valued at $7,888,000 after buying an additional 273,300 shares during the period. Bank of Montreal Can grew its stake in Skeena Resources by 16.6% during the 2nd quarter. Bank of Montreal Can now owns 313,185 shares of the company’s stock valued at $1,681,000 after acquiring an additional 44,519 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Skeena Resources by 318.8% in the 2nd 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 during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Skeena Resources in the second quarter worth approximately $179,000. Institutional investors own 45.15% of the company’s stock.

About Skeena Resources

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.