Skeena Resources (NYSE:SKE) Trading Up 9.4% – What’s Next?

Skeena Resources Limited (NYSE:SKE) shares 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 mid-day trading, a decline of 84% from the average session volume of 239,671 shares. The stock had previously closed at $10.28.

Wall Street Analysts Forecast Growth

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

Skeena Resources Stock Up 12.0 %

The company has a 50-day simple moving average of $9.38 and a two-hundred day simple moving average of $8.61. The firm has a market cap of $1.24 billion, a PE ratio of -8.38 and a beta of 1.29.

Institutional Trading of Skeena Resources

A number of institutional investors have recently added to or reduced their stakes in SKE. FNY Investment Advisers LLC increased its stake 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 worth $34,000 after acquiring an additional 3,830 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Skeena Resources during the 3rd quarter valued at about $43,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Skeena Resources during the 3rd quarter valued at about $93,000. Howland Capital Management LLC bought a new position in shares of Skeena Resources during the 4th quarter valued at about $96,000. Finally, Pinnacle Wealth Management Group Inc. bought a new position in shares of Skeena Resources during the 3rd quarter valued at about $110,000. Hedge funds and other 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.