Skeena Resources (NYSE:SKE) Shares Up 5.3% – Still a Buy?

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

Wall Street Analysts Forecast Growth

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

Skeena Resources Stock Performance

The company has a 50 day moving average of $9.06 and a 200 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.

Institutional Investors Weigh In On Skeena Resources

Large investors have recently bought and sold shares of the business. Jane Street Group LLC lifted its position in shares of Skeena Resources by 90.1% in the third quarter. Jane Street Group LLC now owns 138,453 shares of the company’s stock worth $1,176,000 after buying an additional 65,627 shares during the last quarter. Goehring & Rozencwajg Associates LLC raised its stake in shares of Skeena Resources by 22.8% in the 2nd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Skeena Resources during the third quarter worth approximately $547,000. Helikon Investments Ltd bought a new stake in Skeena Resources during the third quarter worth approximately $18,159,000. Finally, Knoll Capital Management LLC raised its position in shares of Skeena Resources by 713.2% in the third quarter. Knoll Capital Management LLC now owns 315,400 shares of the company’s stock valued at $2,668,000 after purchasing an additional 276,614 shares during the period. 45.15% of the stock is currently owned by 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.