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

Skeena Resources Limited (NYSE:SKE)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $7.86, but opened at $8.18. Skeena Resources shares last traded at $8.34, with a volume of 39,695 shares.

Wall Street Analysts Forecast Growth

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

Skeena Resources Stock Performance

The stock has a 50 day moving average of $8.91 and a two-hundred day moving average of $6.92. The stock has a market cap of $929.74 million, a PE ratio of -5.74 and a beta of 1.33.

Institutional Investors Weigh In On Skeena Resources

Several large investors have recently made changes to their positions in the company. Nokomis Capital L.L.C. bought a new position in Skeena Resources during the first quarter worth $155,000. Knoll Capital Management LLC bought a new stake in Skeena Resources in the 1st quarter valued at $179,000. Corundum Trust Company INC bought a new stake in Skeena Resources during the 2nd quarter worth about $350,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Skeena Resources in the 2nd quarter valued at approximately $2,682,000. Finally, TD Asset Management Inc bought a new position in shares of Skeena Resources during the 2nd quarter worth approximately $405,000. 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.