Seabridge Gold (NYSE:SA) Shares Gap Down – Should You Sell?

Shares of Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) gapped down prior to trading on Tuesday . The stock had previously closed at $12.22, but opened at $11.97. Seabridge Gold shares last traded at $12.10, with a volume of 138,482 shares.

Seabridge Gold Trading Up 1.4%

The firm has a market capitalization of $1.25 billion, a P/E ratio of -49.56 and a beta of 0.67. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $11.86 and a 200 day simple moving average of $12.28.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its quarterly earnings data on Tuesday, May 13th. The basic materials company reported $0.08 earnings per share (EPS) for the quarter.

Institutional Trading of Seabridge Gold

Hedge funds have recently modified their holdings of the company. Kopernik Global Investors LLC grew its stake in shares of Seabridge Gold by 141.0% in the 1st quarter. Kopernik Global Investors LLC now owns 7,342,955 shares of the basic materials company’s stock worth $85,692,000 after buying an additional 4,295,907 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake 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 valued at $15,657,000 after purchasing an additional 360,183 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Seabridge Gold by 7.9% in the 1st quarter. Raymond James Financial Inc. now owns 1,199,101 shares of the basic materials company’s stock worth $13,994,000 after purchasing an additional 88,115 shares during the period. Russell Investments Group Ltd. raised its holdings in Seabridge Gold by 66.3% during the 1st quarter. Russell Investments Group Ltd. now owns 1,192,840 shares of the basic materials company’s stock valued at $13,903,000 after buying an additional 475,352 shares during the period. Finally, Amundi raised its holdings in Seabridge Gold by 30.3% during the 1st quarter. Amundi now owns 845,655 shares of the basic materials company’s stock valued at $9,370,000 after buying an additional 196,687 shares during the period. 34.85% of the stock is owned by hedge funds and other institutional investors.

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.