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

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 trading hands.

Skeena Resources Price Performance

The company has a market cap of $1.14 billion, a price-to-earnings ratio of -7.36 and a beta of 1.29. The business’s fifty day moving average price is $10.22 and its 200 day moving average price is $9.46.

Institutional Investors Weigh In On Skeena Resources

A number of institutional investors have recently made changes to their positions in the stock. Helikon Investments Ltd raised its position in shares of 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 acquiring an additional 6,784,027 shares during the last quarter. Invesco Ltd. increased its position in Skeena Resources by 4,414.9% during the 4th quarter. Invesco Ltd. now owns 783,964 shares of the company’s stock valued at $6,836,000 after purchasing an additional 766,600 shares during the period. JPMorgan Chase & Co. bought a new position in Skeena Resources during the 4th quarter worth approximately $4,549,000. Knoll Capital Management LLC lifted its position in shares of Skeena Resources by 713.2% in the 3rd quarter. Knoll Capital Management LLC now owns 315,400 shares of the company’s stock worth $2,668,000 after purchasing an additional 276,614 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Skeena Resources in the 4th quarter valued at $1,342,000. 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.