Skeena Resources (NYSE:SKE) Stock Price Down 5% – Here’s What Happened

Skeena Resources Limited (NYSE:SKE)’s share price was down 5% during mid-day trading on Thursday . The company traded as low as $11.83 and last traded at $11.86. Approximately 123,729 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 386,999 shares. The stock had previously closed at $12.48.

Wall Street Analysts Forecast Growth

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

Skeena Resources Trading Down 2.8 %

The company has a fifty day moving average of $10.21 and a 200-day moving average of $9.61. The stock has a market cap of $1.39 billion, a PE ratio of -8.85 and a beta of 1.22.

Institutional Trading of Skeena Resources

Several hedge funds have recently made changes to their positions in SKE. Kohmann Bosshard Financial Services LLC acquired a new stake in Skeena Resources during the 4th quarter worth approximately $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 period. Tower Research Capital LLC TRC boosted its holdings in Skeena Resources by 2,067.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company’s stock valued at $51,000 after purchasing an additional 5,541 shares during the period. Aquatic Capital Management LLC acquired a new position in Skeena Resources during the 4th quarter worth $89,000. Finally, Howland Capital Management LLC purchased a new stake in Skeena Resources during the 4th quarter worth about $96,000. Institutional investors and hedge funds 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.