Skeena Resources (NYSE:SKE) Trading Up 9.4% - What's Next?

Skeena Resources Limited (NYSE:SKE - Get Free Report)'s share price shot up 9.4% during mid-day trading on Wednesday . The stock traded as high as $11.04 and last traded at $11.25. 39,333 shares traded hands during trading, a decline of 84% from the average session volume of 239,671 shares. The stock had previously closed at $10.28.

Analyst Upgrades and Downgrades

Separately, Desjardins upgraded shares of Skeena Resources to a "moderate buy" rating in a report on Thursday, October 31st.

Skeena Resources Stock Performance

The firm's 50 day moving average is $9.54 and its two-hundred day moving average is $8.75. The stock has a market capitalization of $1.22 billion, a PE ratio of -8.28 and a beta of 1.29.

Institutional Investors Weigh In On Skeena Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Helikon Investments Ltd boosted its position in Skeena Resources by 316.1% during the 4th quarter. Helikon Investments Ltd now owns 8,930,424 shares of the company's stock worth $77,873,000 after purchasing an additional 6,784,027 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Skeena Resources by 207.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,095,900 shares of the company's stock worth $9,309,000 after purchasing an additional 739,550 shares during the last quarter. Van ECK Associates Corp grew its stake in Skeena Resources by 16.1% in the third quarter. Van ECK Associates Corp now owns 5,012,498 shares of the company's stock worth $42,406,000 after purchasing an additional 693,745 shares in the last quarter. Knoll Capital Management LLC lifted its holdings in Skeena Resources by 713.2% during the 3rd quarter. Knoll Capital Management LLC now owns 315,400 shares of the company's stock worth $2,668,000 after buying an additional 276,614 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Skeena Resources during the 4th quarter worth approximately $1,342,000. Institutional investors and hedge funds 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.