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

Skeena Resources Limited (NYSE:SKE)’s share price gapped down prior to trading on Monday . The stock had previously closed at $9.19, but opened at $8.82. Skeena Resources shares last traded at $8.52, with a volume of 42,517 shares.

Analyst Upgrades and Downgrades

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

Skeena Resources Price Performance

The stock’s 50 day moving average price is $8.90 and its two-hundred day moving average price is $6.86. The firm has a market capitalization of $830.97 million, a price-to-earnings ratio of -6.91 and a beta of 1.33.

Hedge Funds Weigh In On Skeena Resources

Several large investors have recently bought and sold shares of SKE. Nokomis Capital L.L.C. acquired a new position in Skeena Resources during the 1st quarter valued at $155,000. Knoll Capital Management LLC acquired a new position in Skeena Resources during the 1st quarter valued at $179,000. Corundum Trust Company INC acquired a new position in Skeena Resources during the 2nd quarter valued at $350,000. Allspring Global Investments Holdings LLC bought a new stake in Skeena Resources in the 2nd quarter valued at $2,682,000. Finally, TD Asset Management Inc bought a new stake in Skeena Resources in the 2nd quarter valued at $405,000. 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.