Skeena Resources (NYSE:SKE) Trading Down 4.8% – Here’s Why

Skeena Resources Limited (NYSE:SKE)’s share price was down 4.8% on Wednesday . The company traded as low as $9.75 and last traded at $9.61. Approximately 27,478 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 350,856 shares. The stock had previously closed at $10.09.

Skeena Resources Price Performance

The stock has a market cap of $1.08 billion, a PE ratio of -6.97 and a beta of 1.29. The stock has a 50-day simple moving average of $10.24 and a 200-day simple moving average of $9.50.

Institutional Trading of Skeena Resources

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

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.