Skeena Resources (NYSE:SKE) Shares Gap Up – What’s Next?

Skeena Resources Limited (NYSE:SKE) gapped up before the market opened on Monday . The stock had previously closed at $11.23, but opened at $11.90. Skeena Resources shares last traded at $11.62, with a volume of 89,555 shares changing hands.

Analysts Set New Price Targets

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

Skeena Resources Stock Performance

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -8.58 and a beta of 1.22. The stock’s 50-day simple moving average is $10.53 and its two-hundred day simple moving average is $9.89.

Institutional Trading of Skeena Resources

Several hedge funds have recently added to or reduced their stakes in SKE. Sprott Inc. lifted its holdings in shares of Skeena Resources by 5.1% during the fourth quarter. Sprott Inc. now owns 1,109,950 shares of the company’s stock worth $9,674,000 after buying an additional 54,242 shares during the last quarter. Helikon Investments Ltd increased its position in Skeena Resources by 316.1% during the fourth quarter. Helikon Investments Ltd now owns 8,930,424 shares of the company’s stock worth $77,873,000 after acquiring an additional 6,784,027 shares during the period. JPMorgan Chase & Co. bought a new position in Skeena Resources during the fourth quarter worth $4,549,000. Amundi raised its stake in Skeena Resources by 9.8% during the 4th quarter. Amundi now owns 1,219,300 shares of the company’s stock valued at $11,632,000 after purchasing an additional 109,300 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Skeena Resources in the 4th quarter valued at $1,342,000. 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.