Skeena Resources (NYSE:SKE) Shares Up 6% – Should You Buy?

Skeena Resources Limited (NYSE:SKE)’s stock price traded up 6% on Tuesday . The stock traded as high as $9.62 and last traded at $9.60. 22,635 shares changed hands during 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 raised Skeena Resources to a “moderate buy” rating in a report on Thursday, October 31st.

Skeena Resources Trading Up 9.4 %

The firm has a market cap of $1.07 billion, a price-to-earnings ratio of -7.23 and a beta of 1.27. The firm’s 50 day simple moving average is $9.04 and its two-hundred day simple moving average is $8.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. FNY Investment Advisers LLC boosted its stake 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Skeena Resources in the third quarter valued at about $43,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Skeena Resources during the third quarter valued at about $93,000. Pinnacle Wealth Management Group Inc. bought a new stake in shares of Skeena Resources during the third quarter worth about $110,000. Finally, Virtu Financial LLC acquired a new stake in Skeena Resources during the 3rd quarter worth approximately $113,000. 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.