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

Shares of Skeena Resources Limited (NYSE:SKE) gapped up before the market opened on Thursday . The stock had previously closed at $9.96, but opened at $10.19. Skeena Resources shares last traded at $10.19, with a volume of 74,083 shares traded.

Skeena Resources Price Performance

The business’s 50 day simple moving average is $10.18 and its 200 day simple moving average is $9.44. The company has a market capitalization of $1.15 billion, a PE ratio of -7.44 and a beta of 1.29.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new stake in Skeena Resources in the fourth quarter valued at $31,000. FNY Investment Advisers LLC lifted its position in Skeena Resources by 2,252.9% in the fourth 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 last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Skeena Resources during the third quarter worth about $43,000. Tower Research Capital LLC TRC increased its position in shares of Skeena Resources by 2,067.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company’s stock valued at $51,000 after acquiring an additional 5,541 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in shares of Skeena Resources in the 4th quarter valued at approximately $89,000. 45.15% of the stock is currently 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.