Seabridge Gold (NYSE:SA) Shares Down 3.4% – Time to Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) dropped 3.4% on Friday . The company traded as low as $24.22 and last traded at $24.00. Approximately 887,986 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 949,227 shares. The stock had previously closed at $24.85.

Analyst Upgrades and Downgrades

SA has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Seabridge Gold in a research note on Saturday, September 27th. Zacks Research raised shares of Seabridge Gold to a “hold” rating in a research note on Tuesday, September 16th. Finally, Wall Street Zen raised shares of Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Seabridge Gold currently has a consensus rating of “Reduce”.

Seabridge Gold Stock Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a market capitalization of $2.48 billion, a P/E ratio of -63.61 and a beta of 0.76. The stock’s 50 day moving average is $18.31 and its two-hundred day moving average is $14.98.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its quarterly earnings results on Wednesday, August 13th. The basic materials company reported $0.09 earnings per share for the quarter.

Institutional Investors Weigh In On Seabridge Gold

A number of institutional investors and hedge funds have recently modified their holdings of the business. Total Investment Management Inc. bought a new stake in shares of Seabridge Gold during the second quarter worth approximately $28,000. Geneos Wealth Management Inc. grew its holdings in Seabridge Gold by 2.1% during the second quarter. Geneos Wealth Management Inc. now owns 48,810 shares of the basic materials company’s stock valued at $709,000 after purchasing an additional 1,000 shares during the period. LMR Partners LLP acquired a new position in Seabridge Gold during the second quarter valued at approximately $581,000. HRT Financial LP acquired a new position in Seabridge Gold during the second quarter valued at approximately $2,366,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Seabridge Gold by 17.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,857 shares of the basic materials company’s stock valued at $753,000 after purchasing an additional 7,865 shares during the period. 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.