Seabridge Gold (NYSE:SA) Shares Gap Down – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $31.14, but opened at $29.42. Seabridge Gold shares last traded at $29.34, with a volume of 166,286 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research downgraded Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, November 24th. Wall Street Zen downgraded shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday. Finally, B. Riley lifted their price objective on shares of Seabridge Gold from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, Seabridge Gold currently has a consensus rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Trading Up 1.9%

The firm has a market capitalization of $3.17 billion, a P/E ratio of -79.65 and a beta of 0.85. The stock has a 50-day simple moving average of $26.57 and a two-hundred day simple moving average of $21.21. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.55.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its quarterly earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.20).

Institutional Investors Weigh In On Seabridge Gold

Several large investors have recently modified their holdings of SA. Amundi grew its stake in Seabridge Gold by 30.3% in the first quarter. Amundi now owns 845,655 shares of the basic materials company’s stock valued at $9,370,000 after purchasing an additional 196,687 shares during the last quarter. Krilogy Financial LLC bought a new stake in shares of Seabridge Gold in the 2nd quarter valued at about $2,006,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Seabridge Gold in the 2nd quarter valued at about $404,000. Ontario Teachers Pension Plan Board grew its position in shares of Seabridge Gold by 10.8% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 1,490,415 shares of the basic materials company’s stock worth $21,652,000 after buying an additional 145,528 shares during the last quarter. Finally, TD Asset Management Inc grew its position in shares of Seabridge Gold by 11.5% in the 2nd quarter. TD Asset Management Inc now owns 248,111 shares of the basic materials company’s stock worth $3,595,000 after buying an additional 25,676 shares during 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.