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

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $19.04 and last traded at $19.04, with a volume of 1137 shares changing hands. The stock had previously closed at $18.77.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Seabridge Gold to a “sell” rating in a report on Monday, August 19th.

Seabridge Gold Price Performance

The stock has a market capitalization of $1.85 billion, a P/E ratio of -293.14 and a beta of 1.14. The company’s 50 day simple moving average is $17.37 and its two-hundred day simple moving average is $15.88. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.11 and a quick ratio of 2.11.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.34.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in Seabridge Gold by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 3,717,871 shares of the basic materials company’s stock worth $50,898,000 after buying an additional 37,403 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Seabridge Gold during the first quarter worth $17,419,000. Toronto Dominion Bank acquired a new position in shares of Seabridge Gold during the second quarter valued at $13,720,000. Russell Investments Group Ltd. lifted its stake in shares of Seabridge Gold by 0.9% during the first quarter. Russell Investments Group Ltd. now owns 897,435 shares of the basic materials company’s stock valued at $13,579,000 after acquiring an additional 8,440 shares during the period. Finally, Raymond James & Associates boosted its holdings in Seabridge Gold by 0.4% in the third quarter. Raymond James & Associates now owns 866,186 shares of the basic materials company’s stock valued at $14,543,000 after acquiring an additional 3,464 shares during the last quarter. 34.85% of the stock is owned by institutional investors.

About Seabridge Gold

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.