Skeena Resources (NYSE:SKE) Shares Gap Down – Should You Sell?

Skeena Resources Limited (NYSE:SKE) gapped down prior to trading on Monday . The stock had previously closed at $12.55, but opened at $12.00. Skeena Resources shares last traded at $11.50, with a volume of 68,304 shares trading hands.

Analysts Set New Price Targets

Separately, Raymond James restated a “strong-buy” rating on shares of Skeena Resources in a report on Friday, April 4th.

Skeena Resources Stock Performance

The business’s fifty day moving average price is $10.81 and its two-hundred day moving average price is $9.98. The stock has a market capitalization of $1.31 billion, a P/E ratio of -8.39 and a beta of 1.20.

Institutional Trading of Skeena Resources

A number of large investors have recently made changes to their positions in SKE. Geode Capital Management LLC purchased a new position in shares of Skeena Resources during the 3rd quarter worth about $335,000. Barclays PLC boosted its stake in shares of Skeena Resources by 130.6% during the 3rd quarter. Barclays PLC now owns 29,696 shares of the company’s stock worth $251,000 after purchasing an additional 16,819 shares during the period. FNY Investment Advisers LLC boosted its stake in shares of Skeena Resources by 2,252.9% during the 4th quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company’s stock worth $34,000 after purchasing an additional 3,830 shares during the period. Helikon Investments Ltd boosted its stake in shares of Skeena Resources by 316.1% during the 4th quarter. Helikon Investments Ltd now owns 8,930,424 shares of the company’s stock worth $77,873,000 after purchasing an additional 6,784,027 shares during the period. Finally, Howland Capital Management LLC purchased a new stake in Skeena Resources in the 4th quarter valued at about $96,000. 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.