Raymond James Trims Skeena Resources (NYSE:SKE) Target Price to C$20.00

Skeena Resources (NYSE:SKEGet Rating) had its price objective reduced by analysts at Raymond James from C$22.00 to C$20.00 in a report issued on Wednesday, The Fly reports.

Separately, CIBC started coverage on Skeena Resources in a research note on Monday, March 14th. They issued an “outperform” rating on the stock.

NYSE:SKE traded down $0.43 during trading hours on Wednesday, reaching $8.13. The stock had a trading volume of 243 shares, compared to its average volume of 38,036. Skeena Resources has a 52 week low of $7.58 and a 52 week high of $13.60. The company’s 50 day moving average price is $10.59.

Hedge funds have recently modified their holdings of the business. Bank of America Corp DE purchased a new stake in shares of Skeena Resources in the 4th quarter worth $40,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Skeena Resources in the 4th quarter worth $52,000. FNY Investment Advisers LLC purchased a new stake in shares of Skeena Resources in the 1st quarter worth $136,000. Raymond James & Associates bought a new position in shares of Skeena Resources in the 4th quarter worth $204,000. Finally, Captrust Financial Advisors raised its position in shares of Skeena Resources by 15.3% in the 1st quarter. Captrust Financial Advisors now owns 19,600 shares of the company’s stock worth $218,000 after acquiring an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 27.94% of the company’s stock.

Skeena Resources Company Profile (Get Rating)

Skeena Resources Limited explores 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, which total 6,151 hectares located in British Columbia, Canada.

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