Skeena Resources (NYSE:SKE) Stock Price Up 6% – Here’s What Happened

Skeena Resources Limited (NYSE:SKE)’s share price traded up 6% during mid-day trading on Tuesday . The company traded as high as $9.62 and last traded at $9.60. 22,635 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 214,439 shares. The stock had previously closed at $9.06.

Analyst Upgrades and Downgrades

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

Skeena Resources Price Performance

The business’s 50-day moving average is $9.04 and its two-hundred day moving average is $8.22. The firm has a market cap of $1.07 billion, a P/E ratio of -7.23 and a beta of 1.27.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC raised its holdings in shares of 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 purchasing an additional 3,830 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Skeena Resources in the third quarter valued at approximately $43,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Skeena Resources during the 3rd quarter worth approximately $93,000. Pinnacle Wealth Management Group Inc. acquired a new position in shares of Skeena Resources during the 3rd quarter worth approximately $110,000. Finally, Virtu Financial LLC acquired a new position in shares of Skeena Resources in the third quarter valued at $113,000. Institutional investors and hedge funds own 45.15% of the company’s stock.

About Skeena Resources

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.