Skeena Resources (NYSE:SKE) Shares Gap Up - What's Next?

Shares of Skeena Resources Limited (NYSE:SKE - Get Free Report) 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.

Wall Street Analyst Weigh In

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

Skeena Resources Stock Up 4.8 %

The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -8.58 and a beta of 1.22. The firm has a 50-day moving average of $10.53 and a two-hundred day moving average of $9.89.

Hedge Funds Weigh In On Skeena Resources

Large investors have recently made changes to their positions in the business. Sprott Inc. increased its stake in Skeena Resources by 5.1% in the 4th quarter. Sprott Inc. now owns 1,109,950 shares of the company's stock valued at $9,674,000 after buying an additional 54,242 shares during the period. Helikon Investments Ltd grew its holdings 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 valued at $77,873,000 after acquiring an additional 6,784,027 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Skeena Resources in the fourth quarter worth $4,549,000. Amundi raised its holdings in shares of Skeena Resources by 9.8% during the fourth quarter. Amundi now owns 1,219,300 shares of the company's stock worth $11,632,000 after acquiring an additional 109,300 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Skeena Resources during the fourth quarter valued at $1,342,000. Institutional investors and hedge funds own 45.15% of the company's stock.

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.

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