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

Skeena Resources Limited (NYSE:SKE)’s stock 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.

Analyst Upgrades and Downgrades

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

Skeena Resources Trading Down 5.4 %

The business’s 50 day moving average is $9.78 and its 200 day moving average is $8.96. The stock has a market capitalization of $1.06 billion, a PE ratio of -7.22 and a beta of 1.29.

Hedge Funds Weigh In On Skeena Resources

Large investors have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Skeena Resources during the 4th quarter worth about $31,000. FNY Investment Advisers LLC boosted its position in Skeena Resources by 2,252.9% in the 4th 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Skeena Resources in the 3rd quarter valued at about $43,000. Tower Research Capital LLC TRC boosted its position in 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 buying an additional 5,541 shares during the period. Finally, Aquatic Capital Management LLC purchased a new stake in Skeena Resources in the 4th quarter valued at about $89,000. 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.