Skeena Resources (NYSE:SKE) Trading 6% Higher – Time to Buy?

Skeena Resources Limited (NYSE:SKE)’s stock price rose 6% during mid-day trading on Tuesday . The company traded as high as $9.62 and last traded at $9.60. Approximately 22,635 shares were traded during trading, a decline of 89% from the average daily volume of 214,439 shares. The stock had previously closed at $9.06.

Analyst Ratings Changes

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

Skeena Resources Trading Down 2.4 %

The company has a market capitalization of $989.32 million, a P/E ratio of -6.71 and a beta of 1.27. The business’s fifty day moving average price is $9.06 and its 200-day moving average price is $8.26.

Hedge Funds Weigh In On Skeena Resources

Several institutional investors have recently modified their holdings of the company. Goehring & Rozencwajg Associates LLC raised its position in Skeena Resources by 22.8% in the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 1,470,600 shares of the company’s stock worth $7,888,000 after purchasing an additional 273,300 shares during the period. Bank of Montreal Can lifted its position in shares of Skeena Resources by 16.6% in the 2nd quarter. Bank of Montreal Can now owns 313,185 shares of the company’s stock worth $1,681,000 after purchasing an additional 44,519 shares during the period. Marshall Wace LLP lifted its holdings in Skeena Resources by 318.8% in the second quarter. Marshall Wace LLP now owns 172,952 shares of the company’s stock worth $929,000 after buying an additional 131,657 shares during the period. Mackenzie Financial Corp bought a new stake in shares of Skeena Resources during the second quarter valued at approximately $179,000. Finally, Pinnacle Wealth Management Group Inc. bought a new stake in shares of Skeena Resources during the 3rd quarter valued at $110,000. 45.15% of the stock is currently owned by institutional investors.

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.