Stock Traders Purchase High Volume of Call Options on Skeena Resources (NYSE:SKE)

Key Points

• Unusually high call buying: Traders purchased 3,736 call options on SKE on Thursday, roughly a 178% increase versus the stock’s average daily call volume of 1,342.
• SKE shares fell $1.90 to $26.57 on Thursday with 649,617 shares traded (below its ~1.01M average); the stock sits between a 50-day MA of $31.77 and a 200-day MA of $23.84 and has a $3.22B market cap.
• Institutional and analyst backdrop: several hedge funds increased stakes (institutions own ~45.15%), and analyst coverage averages a Moderate Buy rating amid mixed Outperform/Buy and Sell opinions.

Skeena Resources Limited (NYSE:SKE - Get Free Report) saw unusually large options trading on Thursday. Traders purchased 3,736 call options on the stock. This is an increase of approximately 178% compared to the average daily volume of 1,342 call options.

Institutional Trading of Skeena Resources

Several hedge funds have recently made changes to their positions in SKE. Rockefeller Capital Management L.P. grew its holdings in shares of Skeena Resources by 41.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,555 shares of the company's stock valued at $37,000 after purchasing an additional 455 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Skeena Resources during the 4th quarter worth approximately $43,000. PNC Financial Services Group Inc. lifted its holdings in Skeena Resources by 431.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,390 shares of the company's stock worth $44,000 after buying an additional 1,940 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Skeena Resources in the 4th quarter valued at approximately $45,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Skeena Resources in the first quarter worth $89,000. Institutional investors and hedge funds own 45.15% of the company's stock.

Skeena Resources Price Performance

Shares of SKE stock traded down $1.90 on Thursday, hitting $26.57. The stock had a trading volume of 649,617 shares, compared to its average volume of 1,009,198. The company's 50 day moving average price is $31.77 and its 200-day moving average price is $23.84. Skeena Resources has a 1 year low of $8.53 and a 1 year high of $38.77. The firm has a market capitalization of $3.22 billion, a P/E ratio of -36.20 and a beta of 1.17.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SKE. Scotiabank reaffirmed an "outperform" rating on shares of Skeena Resources in a research note on Monday, January 26th. Wall Street Zen raised shares of Skeena Resources from a "sell" rating to a "hold" rating in a research report on Sunday, January 25th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Skeena Resources in a research note on Wednesday, February 4th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Skeena Resources in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Skeena Resources presently has an average rating of "Moderate Buy".

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.

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