Skeena Resources (NYSE:SKE) Shares Gap Down – Here’s What Happened

Skeena Resources Limited (NYSE:SKE) gapped down prior to trading on Wednesday . The stock had previously closed at $10.92, but opened at $10.45. Skeena Resources shares last traded at $10.39, with a volume of 60,731 shares trading hands.

Analyst Upgrades and Downgrades

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

Skeena Resources Stock Performance

The company has a market capitalization of $1.06 billion, a P/E ratio of -7.22 and a beta of 1.29. The business’s fifty day simple moving average is $9.78 and its 200-day simple moving average is $8.96.

Institutional Trading of Skeena Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp increased its holdings in Skeena Resources by 4.3% in the 4th quarter. Mackenzie Financial Corp now owns 42,003 shares of the company’s stock valued at $365,000 after acquiring an additional 1,742 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Skeena Resources in the 4th quarter worth $170,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Skeena Resources by 6.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,480 shares of the company’s stock worth $597,000 after buying an additional 3,878 shares in the last quarter. Two Sigma Advisers LP grew its stake in shares of Skeena Resources by 51.4% in the 4th quarter. Two Sigma Advisers LP now owns 153,725 shares of the company’s stock worth $1,340,000 after buying an additional 52,200 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Skeena Resources by 29.4% in the 4th quarter. Two Sigma Investments LP now owns 358,221 shares of the company’s stock worth $3,124,000 after buying an additional 81,400 shares in the last quarter. 45.15% of the stock is currently owned by institutional investors.

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.