Skeena Resources (NYSE:SKE) Stock Price Down 3.2% – Should You Sell?

Shares of Skeena Resources Limited (NYSE:SKE) were down 3.2% on Wednesday . The company traded as low as $10.78 and last traded at $10.82. Approximately 87,998 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 338,616 shares. The stock had previously closed at $11.17.

Skeena Resources Price Performance

The firm’s 50-day moving average price is $10.06 and its 200 day moving average price is $9.33. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -7.92 and a beta of 1.29.

Institutional Trading of Skeena Resources

A number of institutional investors have recently modified their holdings of SKE. Kohmann Bosshard Financial Services LLC acquired a new position in Skeena Resources during the fourth quarter valued at approximately $31,000. FNY Investment Advisers LLC raised its stake 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 acquiring an additional 3,830 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Skeena Resources during the 3rd quarter valued at $43,000. Tower Research Capital LLC TRC boosted its position in Skeena Resources by 2,067.5% during the 4th 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. Finally, Aquatic Capital Management LLC acquired a new stake in Skeena Resources in the 4th quarter valued at $89,000. Hedge funds and other institutional investors 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.