Skeena Resources (NYSE:SKE) Shares Gap Up – Here’s Why

Shares of Skeena Resources Limited (NYSE:SKE) gapped up before the market opened on Thursday . The stock had previously closed at $9.96, but opened at $10.19. Skeena Resources shares last traded at $10.19, with a volume of 74,083 shares.

Skeena Resources Price Performance

The firm has a fifty day simple moving average of $10.18 and a 200 day simple moving average of $9.44. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -7.44 and a beta of 1.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SKE. Jane Street Group LLC boosted its position in Skeena Resources by 90.1% during the third quarter. Jane Street Group LLC now owns 138,453 shares of the company’s stock worth $1,176,000 after acquiring an additional 65,627 shares during the last quarter. Sprott Inc. increased its holdings in shares of Skeena Resources by 5.1% in the fourth quarter. Sprott Inc. now owns 1,109,950 shares of the company’s stock valued at $9,674,000 after purchasing an additional 54,242 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Skeena Resources during the third quarter worth approximately $547,000. Helikon Investments Ltd boosted its stake in Skeena Resources by 316.1% during the fourth quarter. Helikon Investments Ltd now owns 8,930,424 shares of the company’s stock worth $77,873,000 after buying an additional 6,784,027 shares during the last quarter. Finally, Knoll Capital Management LLC grew its holdings in Skeena Resources by 713.2% in the 3rd quarter. Knoll Capital Management LLC now owns 315,400 shares of the company’s stock valued at $2,668,000 after buying an additional 276,614 shares in the last quarter. 45.15% of the stock is owned by hedge funds and other institutional investors.

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.