Seabridge Gold (NYSE:SA) Trading Up 5.7% – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s share price was up 5.7% on Wednesday . The company traded as high as $27.98 and last traded at $27.8630. 157,620 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 750,190 shares. The stock had previously closed at $26.35.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings cut Seabridge Gold from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Seabridge Gold presently has a consensus rating of “Reduce” and an average target price of $65.00.

Seabridge Gold Stock Up 4.3%

The firm’s 50-day simple moving average is $28.53 and its 200-day simple moving average is $30.48. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of -56.64 and a beta of 0.89.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Sell-side analysts forecast that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

Institutional Trading of Seabridge Gold

A number of hedge funds have recently modified their holdings of the company. Kopernik Global Investors LLC grew its holdings in shares of Seabridge Gold by 5.1% during the 1st quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock worth $207,813,000 after purchasing an additional 353,252 shares in the last quarter. Tidal Investments LLC boosted its stake in Seabridge Gold by 12.4% during the third quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock worth $74,184,000 after buying an additional 339,913 shares in the last quarter. Vanguard Group Inc. increased its holdings in Seabridge Gold by 82.9% in the 4th quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock valued at $70,305,000 after buying an additional 1,074,577 shares during the period. Cibc World Market Inc. increased its holdings in Seabridge Gold by 2.4% in the 4th quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock valued at $64,712,000 after buying an additional 51,350 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its stake in shares of Seabridge Gold by 11.7% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 1,664,634 shares of the basic materials company’s stock valued at $49,350,000 after buying an additional 174,219 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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.