Skeena Resources (NYSE:SKE) Stock Price Down 3.2% – Here’s What Happened

Skeena Resources Limited (NYSE:SKE)’s share price traded down 3.2% during trading on Wednesday . The stock traded as low as $10.78 and last traded at $10.82. 87,998 shares were traded during trading, a decline of 74% from the average session volume of 338,616 shares. The stock had previously closed at $11.17.

Skeena Resources Stock Performance

The stock has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $9.33. The stock has a market cap of $1.23 billion, a PE ratio of -7.92 and a beta of 1.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Skeena Resources during the fourth quarter valued at $31,000. FNY Investment Advisers LLC lifted its position in 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Skeena Resources during the 3rd quarter valued at about $43,000. Tower Research Capital LLC TRC increased its stake in shares of 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. Finally, Aquatic Capital Management LLC bought a new stake in shares of Skeena Resources during the fourth quarter valued at approximately $89,000. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

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.