Skeena Resources (NYSE:SKE) Trading 4.9% Higher - Here's Why

Skeena Resources Limited (NYSE:SKE - Get Free Report) was up 4.9% on Monday . The stock traded as high as $15.99 and last traded at $15.78. Approximately 110,655 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 402,666 shares. The stock had previously closed at $15.04.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Raymond James Financial reiterated a "strong-buy" rating on shares of Skeena Resources in a research note on Friday, April 4th. Wall Street Zen downgraded shares of Skeena Resources from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Finally, CIBC reissued an "outperform" rating on shares of Skeena Resources in a research report on Thursday, May 22nd.

Skeena Resources Stock Performance

The company has a 50 day moving average of $12.81 and a 200 day moving average of $10.86. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -13.55 and a beta of 1.19.

Skeena Resources (NYSE:SKE - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). As a group, research analysts expect that Skeena Resources Limited will post -0.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sprott Inc. lifted its position in shares of Skeena Resources by 5.1% during the 4th quarter. Sprott Inc. now owns 1,109,950 shares of the company's stock worth $9,674,000 after purchasing an additional 54,242 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Skeena Resources in the fourth quarter valued at $31,000. Raymond James Financial Inc. acquired a new stake in Skeena Resources in the fourth quarter valued at $1,342,000. PCJ Investment Counsel Ltd. lifted its holdings in Skeena Resources by 11.9% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 139,630 shares of the company's stock worth $1,213,000 after buying an additional 14,840 shares during the last quarter. Finally, Amundi lifted its holdings in Skeena Resources by 9.8% during the 4th quarter. Amundi now owns 1,219,300 shares of the company's stock worth $11,632,000 after buying an additional 109,300 shares during the last quarter. 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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