Skeena Resources (NYSE:SKE) Stock Price Up 5.3% – Should You Buy?

Shares of Skeena Resources Limited (NYSE:SKE) rose 5.3% on Tuesday . The company traded as high as $9.95 and last traded at $9.87. Approximately 60,912 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 179,287 shares. The stock had previously closed at $9.37.

Wall Street Analyst Weigh In

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

Skeena Resources Trading Up 3.9 %

The stock’s fifty day simple moving average is $9.08 and its 200 day simple moving average is $8.04. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -7.11 and a beta of 1.27.

Hedge Funds Weigh In On Skeena Resources

A number of institutional investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Skeena Resources in the 3rd quarter valued at $43,000. Dynamic Technology Lab Private Ltd acquired a new stake in Skeena Resources during the third quarter worth about $93,000. Pinnacle Wealth Management Group Inc. purchased a new position in Skeena Resources during the third quarter worth about $110,000. Virtu Financial LLC purchased a new position in Skeena Resources during the third quarter worth about $113,000. Finally, XTX Topco Ltd acquired a new position in Skeena Resources in the 3rd quarter valued at about $215,000. Hedge funds and other 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.