Skeena Resources Limited (NYSE:SKE) Short Interest Down 21.4% in March

Skeena Resources Limited (NYSE:SKE) saw a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,190,000 shares, a decrease of 21.4% from the February 28th total of 4,060,000 shares. Based on an average daily volume of 324,000 shares, the days-to-cover ratio is presently 9.8 days. Currently, 3.8% of the company’s shares are sold short.

Skeena Resources Stock Down 2.7 %

SKE stock opened at $10.09 on Monday. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -7.36 and a beta of 1.29. The stock’s fifty day simple moving average is $10.22 and its 200-day simple moving average is $9.48. Skeena Resources has a 52-week low of $4.10 and a 52-week high of $11.74.

Institutional Trading of Skeena Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Helikon Investments Ltd boosted its position in shares of Skeena Resources by 316.1% in the fourth quarter. Helikon Investments Ltd now owns 8,930,424 shares of the company’s stock worth $77,873,000 after acquiring an additional 6,784,027 shares during the last quarter. Invesco Ltd. raised its stake in Skeena Resources by 4,414.9% during the fourth quarter. Invesco Ltd. now owns 783,964 shares of the company’s stock worth $6,836,000 after purchasing an additional 766,600 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of Skeena Resources in the 4th quarter valued at $4,549,000. Raymond James Financial Inc. purchased a new stake in shares of Skeena Resources during the 4th quarter valued at $1,342,000. Finally, Bank of America Corp DE increased its holdings in shares of Skeena Resources by 80.3% during the 4th quarter. Bank of America Corp DE now owns 307,838 shares of the company’s stock worth $2,684,000 after buying an additional 137,134 shares during the last quarter. 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.