Skeena Resources (NYSE:SKE) Shares Gap Down – Should You Sell?

Skeena Resources Limited (NYSE:SKE)’s share price gapped down prior to trading on Monday . The stock had previously closed at $12.55, but opened at $12.00. Skeena Resources shares last traded at $11.50, with a volume of 68,304 shares changing hands.

Analyst Upgrades and Downgrades

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

Skeena Resources Trading Down 8.4%

The company has a market capitalization of $1.31 billion, a PE ratio of -8.39 and a beta of 1.20. The firm’s 50-day simple moving average is $10.81 and its 200-day simple moving average is $9.98.

Institutional Investors Weigh In On Skeena Resources

Large investors have recently modified their holdings of the business. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Skeena Resources in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC raised its holdings in shares of Skeena Resources by 2,252.9% in the 4th 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Skeena Resources by 2,067.5% in the 4th 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 in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Skeena Resources in the 1st quarter valued at about $91,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in shares of Skeena Resources in the 1st quarter valued at about $101,000. 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.