Seabridge Gold (NYSE:SA) Sets New 12-Month High – Time to Buy?

by · The Cerbat Gem

Seabridge Gold, Inc. (NYSE:SA – Get Free Report) (TSE:SEA)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $31.42 and last traded at $31.3650, with a volume of 445740 shares traded. The stock had previously closed at $30.93.

Analyst Upgrades and Downgrades

SA has been the topic of a number of research analyst reports. B. Riley lifted their price target on shares of Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Wall Street Zen lowered Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a report on Monday, December 15th. Finally, Zacks Research cut Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Seabridge Gold currently has an average rating of “Reduce” and a consensus price target of $65.00.

Read Our Latest Research Report on Seabridge Gold

Seabridge Gold Stock Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 2.99. The stock has a 50-day moving average of $26.06 and a 200 day moving average of $20.52. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of -82.55 and a beta of 0.85.

Seabridge Gold (NYSE:SA – Get Free Report) (TSE:SEA) last announced its quarterly earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.20).

Hedge Funds Weigh In On Seabridge Gold

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its stake in Seabridge Gold by 210.3% in the 3rd quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after purchasing an additional 5,543,170 shares during the period. Kopernik Global Investors LLC boosted its position in shares of Seabridge Gold by 0.5% in the 2nd quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company’s stock worth $107,195,000 after purchasing an additional 39,651 shares in the last quarter. Tidal Investments LLC raised its stake in shares of Seabridge Gold by 12.4% in the third quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock worth $74,184,000 after purchasing an additional 339,913 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Seabridge Gold by 16.5% in the third quarter. Cibc World Market Inc. now owns 2,131,185 shares of the basic materials company’s stock valued at $51,396,000 after acquiring an additional 302,476 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Seabridge Gold by 10.8% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 1,490,415 shares of the basic materials company’s stock valued at $21,652,000 after buying an additional 145,528 shares in the last quarter. 34.85% of the stock is owned by institutional investors and hedge funds.

About Seabridge Gold

(Get Free Report)

Seabridge Gold Inc, together with its subsidiaries, engages in the acquisition and exploration of gold properties in North America. The company also explores for gold, copper, silver, and molybdenum deposits. The company was formerly known as Seabridge Resources Inc and changed its name to Seabridge Gold Inc in June 2002. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.

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