Seabridge Gold (NYSE:SA) Shares Gap Down – Here’s Why

Shares of Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) gapped down before the market opened on Monday . The stock had previously closed at $12.62, but opened at $12.09. Seabridge Gold shares last traded at $11.89, with a volume of 158,072 shares changing hands.

Seabridge Gold Price Performance

The company has a market capitalization of $1.18 billion, a PE ratio of -47.14 and a beta of 0.67. The firm has a fifty day moving average of $11.76 and a two-hundred day moving average of $12.72. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 0.59.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its earnings results on Thursday, March 27th. The basic materials company reported ($0.32) earnings per share for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ontario Teachers Pension Plan Board raised its position in shares of Seabridge Gold by 36.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 1,344,887 shares of the basic materials company’s stock worth $15,657,000 after acquiring an additional 360,183 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Seabridge Gold in the 4th quarter worth approximately $12,676,000. Amundi raised its position in shares of Seabridge Gold by 15.3% in the 4th quarter. Amundi now owns 648,968 shares of the basic materials company’s stock worth $7,736,000 after acquiring an additional 86,046 shares in the last quarter. Alps Advisors Inc. raised its position in shares of Seabridge Gold by 25.1% in the 1st quarter. Alps Advisors Inc. now owns 474,191 shares of the basic materials company’s stock worth $5,534,000 after acquiring an additional 95,221 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Seabridge Gold by 138.6% in the 4th quarter. Bank of America Corp DE now owns 414,500 shares of the basic materials company’s stock worth $4,729,000 after acquiring an additional 240,756 shares in the last quarter. Institutional investors own 34.85% of the company’s stock.

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.