Skeena Resources (NYSE:SKE – Get Rating) had its price objective increased by Scotiabank from C$15.00 to C$16.00 in a research note published on Wednesday morning, The Fly reports.

Separately, BMO Capital Markets assumed coverage on shares of Skeena Resources in a research note on Friday, October 7th. They set an outperform rating for the company.

Skeena Resources Price Performance

Shares of SKE opened at $6.21 on Wednesday. The firm has a 50 day simple moving average of $5.71 and a 200-day simple moving average of $5.21. Skeena Resources has a 1-year low of $4.10 and a 1-year high of $13.39. The stock has a market cap of $482.24 million, a price-to-earnings ratio of -5.05 and a beta of 1.11.

Institutional Investors Weigh In On Skeena Resources

Hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors lifted its position in Skeena Resources by 8.5% during the third quarter. Captrust Financial Advisors now owns 25,500 shares of the company's stock worth $119,000 after buying an additional 2,000 shares during the period. Jane Street Group LLC purchased a new position in shares of Skeena Resources during the 3rd quarter worth about $548,000. Royal Bank of Canada boosted its position in shares of Skeena Resources by 1.0% in the third quarter. Royal Bank of Canada now owns 1,125,881 shares of the company's stock worth $5,269,000 after acquiring an additional 10,992 shares during the last quarter. King Wealth acquired a new stake in shares of Skeena Resources in the third quarter worth approximately $47,000. Finally, Tower Research Capital LLC TRC grew its holdings in Skeena Resources by 78.1% in the third quarter. Tower Research Capital LLC TRC now owns 9,891 shares of the company's stock valued at $47,000 after purchasing an additional 4,338 shares during the period. Institutional investors and hedge funds own 32.13% of the company's stock.

About Skeena Resources

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Skeena Resources Ltd. is a mineral exploration stage company. The firm focuses on developing the Eskay Creek Project, an advanced-stage exploration project. The company was founded on September 13, 1979 and is headquartered in Vancouver, Canada.

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