Skeena Resources Limited (NYSE:SKE) Sees Significant Decrease in Short Interest

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

Institutional Investors Weigh In On Skeena Resources

A number of large investors have recently added to or reduced their stakes in SKE. Mackenzie Financial Corp lifted its holdings in Skeena Resources by 4.3% in the 4th quarter. Mackenzie Financial Corp now owns 42,003 shares of the company’s stock worth $365,000 after buying an additional 1,742 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Skeena Resources in the fourth quarter worth about $31,000. FNY Investment Advisers LLC boosted its holdings in Skeena Resources by 2,252.9% in the fourth quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company’s stock valued at $34,000 after purchasing an additional 3,830 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in Skeena Resources by 30.7% during the 4th quarter. Pictet Asset Management Holding SA now owns 16,523 shares of the company’s stock valued at $144,000 after purchasing an additional 3,878 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in 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. 45.15% of the stock is owned by institutional investors and hedge funds.

Skeena Resources Stock Performance

Skeena Resources stock opened at $10.09 on Monday. Skeena Resources has a one year low of $4.10 and a one year high of $11.74. The stock’s 50 day moving average price is $10.22 and its 200 day moving average price is $9.48. The firm has a market capitalization of $1.14 billion, a PE ratio of -7.36 and a beta of 1.29.

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.