Skeena Resources Limited (NYSE:SKE) Short Interest Down 17.5% in March

Skeena Resources Limited (NYSE:SKE) was the target of a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 2,170,000 shares, a decrease of 17.5% from the February 29th total of 2,630,000 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily volume of 170,900 shares, the days-to-cover ratio is presently 12.7 days.

Skeena Resources Price Performance

Shares of SKE traded down $0.01 during trading hours on Monday, hitting $4.61. The stock had a trading volume of 139,152 shares, compared to its average volume of 173,150. Skeena Resources has a 52 week low of $3.05 and a 52 week high of $7.65. The company’s fifty day moving average is $4.20 and its two-hundred day moving average is $4.27. The stock has a market capitalization of $416.47 million, a price-to-earnings ratio of -5.50 and a beta of 1.37.

Institutional Investors Weigh In On Skeena Resources

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in Skeena Resources by 3.3% during the 1st quarter. Bank of Montreal Can now owns 60,512 shares of the company’s stock worth $704,000 after acquiring an additional 1,911 shares during the last quarter. Captrust Financial Advisors grew its holdings in Skeena Resources by 8.5% during the 3rd quarter. Captrust Financial Advisors now owns 25,500 shares of the company’s stock worth $119,000 after acquiring an additional 2,000 shares during the last quarter. Citadel Advisors LLC grew its holdings in Skeena Resources by 8.5% during the 2nd quarter. Citadel Advisors LLC now owns 32,305 shares of the company’s stock worth $156,000 after acquiring an additional 2,540 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Skeena Resources by 0.5% during the 3rd quarter. Mackenzie Financial Corp now owns 612,018 shares of the company’s stock worth $2,785,000 after acquiring an additional 3,270 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Skeena Resources by 5.8% during the 4th quarter. Legal & General Group Plc now owns 60,427 shares of the company’s stock worth $296,000 after acquiring an additional 3,300 shares during the last quarter. 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 four mineral tenures that covers an area of approximately 1,932 hectares; and the Eskay Creek gold mine that consists of eight mineral leases, two surface leases, and various unpatented mining claims comprising 7,096 hectares located in British Columbia, Canada.