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

Skeena Resources Limited (NYSE:SKE) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 4,840,000 shares, a growth of 26.7% from the October 31st total of 3,820,000 shares. Currently, 6.2% of the company’s shares are sold short. Based on an average daily volume of 345,200 shares, the short-interest ratio is currently 14.0 days.

Skeena Resources Trading Down 1.1 %

NYSE SKE traded down $0.11 during trading hours on Monday, hitting $9.17. 331,948 shares of the company’s stock were exchanged, compared to its average volume of 313,531. The stock has a 50-day simple moving average of $9.01 and a 200 day simple moving average of $7.22. Skeena Resources has a 1-year low of $3.29 and a 1-year high of $10.33. The firm has a market cap of $983.99 million, a price-to-earnings ratio of -6.69 and a beta of 1.33.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Skeena Resources

A number of hedge funds have recently added to or reduced their stakes in SKE. Corundum Trust Company INC acquired a new stake in Skeena Resources in the second quarter valued at approximately $350,000. Allspring Global Investments Holdings LLC acquired a new stake in Skeena Resources in the second quarter valued at approximately $2,682,000. TD Asset Management Inc acquired a new stake in Skeena Resources in the second quarter valued at approximately $405,000. Goehring & Rozencwajg Associates LLC grew its stake in Skeena Resources by 22.8% in the second quarter. Goehring & Rozencwajg Associates LLC now owns 1,470,600 shares of the company’s stock valued at $7,888,000 after acquiring an additional 273,300 shares during the period. Finally, Bank of Montreal Can grew its stake in Skeena Resources by 16.6% in the second 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 during the period. Institutional investors and hedge funds 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.