Seabridge Gold (NYSE:SA) Hits New 1-Year High – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $32.54 and last traded at $32.4490, with a volume of 236363 shares. The stock had previously closed at $30.86.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a report on Monday, December 29th. Wall Street Zen downgraded Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Zacks Research raised Seabridge Gold from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, B. Riley raised their price objective on Seabridge Gold from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $65.00.

Seabridge Gold Price Performance

The stock’s fifty day simple moving average is $28.73 and its 200-day simple moving average is $22.81. The company has a market capitalization of $3.47 billion, a P/E ratio of -85.45 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 2.99.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.20).

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new position in shares of Seabridge Gold during the second quarter worth $26,000. Total Investment Management Inc. bought a new stake in Seabridge Gold during the second quarter worth about $28,000. Caitlin John LLC acquired a new stake in shares of Seabridge Gold in the 3rd quarter valued at approximately $31,000. Blue Trust Inc. grew its position in shares of Seabridge Gold by 974.0% in the 3rd quarter. Blue Trust Inc. now owns 1,654 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 1,500 shares during the period. Finally, Creative Financial Designs Inc. ADV increased its position in Seabridge Gold by 100.0% during the second quarter. Creative Financial Designs Inc. ADV now owns 3,000 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,500 shares during the last quarter. 34.85% of the stock is currently owned by institutional investors and hedge funds.

Seabridge Gold Company Profile

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.