Skeena Resources (NYSE:SKE) Shares Gap Up – Here’s Why

Skeena Resources Limited (NYSE:SKE)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $10.15, but opened at $10.65. Skeena Resources shares last traded at $11.16, with a volume of 140,728 shares traded.

Analysts Set New Price Targets

Separately, Raymond James restated a “strong-buy” rating on shares of Skeena Resources in a research note on Friday, April 4th.

Skeena Resources Stock Up 8.8 %

The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -8.11 and a beta of 1.22. The company’s fifty day moving average is $10.14 and its 200 day moving average is $9.52.

Hedge Funds Weigh In On Skeena Resources

A number of large investors have recently modified their holdings of SKE. Mackenzie Financial Corp increased its position in shares of Skeena Resources by 4.3% in the fourth quarter. Mackenzie Financial Corp now owns 42,003 shares of the company’s stock valued at $365,000 after acquiring an additional 1,742 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Skeena Resources during the 4th quarter worth approximately $170,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Skeena Resources by 6.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 68,480 shares of the company’s stock worth $597,000 after purchasing an additional 3,878 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Skeena Resources by 51.4% during the 4th quarter. Two Sigma Advisers LP now owns 153,725 shares of the company’s stock worth $1,340,000 after purchasing an additional 52,200 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in shares of Skeena Resources by 29.4% in the 4th quarter. Two Sigma Investments LP now owns 358,221 shares of the company’s stock valued at $3,124,000 after buying an additional 81,400 shares during the last quarter. 45.15% of the stock is currently owned by institutional investors and hedge funds.

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.