Skeena Resources (NYSE:SKE) Shares Gap Down – Here’s What Happened

Skeena Resources Limited (NYSE:SKE)’s share price 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 trading hands.

Wall Street Analysts Forecast Growth

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

Skeena Resources Stock Performance

The company’s 50 day moving average price is $9.74 and its 200-day moving average price is $8.94. The company has a market cap of $1.10 billion, a price-to-earnings ratio of -7.49 and a beta of 1.29.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new stake in Skeena Resources during the 4th quarter worth about $31,000. FNY Investment Advisers LLC grew its holdings in shares of Skeena Resources by 2,252.9% during the fourth 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Skeena Resources during the third quarter valued at $43,000. Tower Research Capital LLC TRC increased its holdings 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 valued at $51,000 after purchasing an additional 5,541 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Skeena Resources in the fourth quarter worth 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.