Skeena Resources (NYSE:SKE) Sets New 1-Year High – Still a Buy?

Skeena Resources Limited (NYSE:SKE)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.76 and last traded at $11.57, with a volume of 233459 shares trading hands. The stock had previously closed at $11.37.

Analyst Ratings Changes

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

Skeena Resources Stock Performance

The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -8.87 and a beta of 1.22. The business’s 50 day moving average is $10.19 and its 200 day moving average is $9.59.

Institutional Investors Weigh In On Skeena Resources

Large investors have recently made changes to their positions in the stock. Kohmann Bosshard Financial Services LLC purchased a new position in Skeena Resources in the 4th quarter worth $31,000. FNY Investment Advisers LLC raised its stake in shares of Skeena Resources by 2,252.9% in the fourth quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company’s stock worth $34,000 after purchasing an additional 3,830 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Skeena Resources by 2,067.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,809 shares of the company’s stock worth $51,000 after purchasing an additional 5,541 shares during the period. Aquatic Capital Management LLC purchased a new stake in Skeena Resources in the fourth quarter valued at approximately $89,000. Finally, Howland Capital Management LLC acquired a new position in Skeena Resources in the 4th quarter worth approximately $96,000. 45.15% of the stock is owned by hedge funds and other institutional investors.

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.