Skeena Resources (NYSE:SKE) Trading 4% Higher – Should You Buy?

Skeena Resources Limited (NYSE:SKE) shares traded up 4% on Thursday . The stock traded as high as $10.17 and last traded at $10.16. 43,882 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 290,777 shares. The stock had previously closed at $9.77.

Skeena Resources Stock Up 0.8 %

The stock’s 50-day moving average price is $10.00 and its 200 day moving average price is $9.26. The company has a market cap of $1.15 billion, a P/E ratio of -7.44 and a beta of 1.29.

Institutional Investors Weigh In On Skeena Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. Helikon Investments Ltd grew its holdings in Skeena Resources by 316.1% in the 4th quarter. Helikon Investments Ltd now owns 8,930,424 shares of the company’s stock valued at $77,873,000 after buying an additional 6,784,027 shares during the last quarter. Amundi raised its stake in Skeena Resources by 9.8% during the 4th quarter. Amundi now owns 1,219,300 shares of the company’s stock valued at $11,632,000 after purchasing an additional 109,300 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Skeena Resources by 5.6% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,156,738 shares of the company’s stock worth $10,046,000 after acquiring an additional 60,838 shares during the period. Sprott Inc. boosted its position in shares of Skeena Resources by 5.1% during the 4th quarter. Sprott Inc. now owns 1,109,950 shares of the company’s stock valued at $9,674,000 after acquiring an additional 54,242 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Skeena Resources by 4,414.9% during the fourth quarter. Invesco Ltd. now owns 783,964 shares of the company’s stock worth $6,836,000 after purchasing an additional 766,600 shares during the period. 45.15% of the stock is owned by institutional investors and hedge funds.

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.