Seabridge Gold, Inc. (NYSE:SA – Get Free Report) (TSE:SEA)’s stock price shot up 7.4% on Wednesday . The company traded as high as $29.47 and last traded at $29.6470. 343,966 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,081,401 shares. The stock had previously closed at $27.61.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on SA. Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research note on Friday, March 27th. Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Zacks Research lowered Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $65.00.
Read Our Latest Research Report on Seabridge Gold
Seabridge Gold Stock Performance
Seabridge Gold (NYSE:SA – Get Free Report) (TSE:SEA) last announced its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). On average, analysts expect that Seabridge Gold, Inc. will post -0.17 EPS for the current year.
Institutional Trading of Seabridge Gold
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new stake in Seabridge Gold in the fourth quarter worth about $30,000. Smartleaf Asset Management LLC bought a new position in Seabridge Gold during the fourth quarter worth about $30,000. Caitlin John LLC bought a new position in Seabridge Gold during the third quarter worth about $31,000. Federation des caisses Desjardins du Quebec boosted its holdings in Seabridge Gold by 77.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after buying an additional 465 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in Seabridge Gold during the fourth quarter worth about $39,000. 34.85% of the stock is currently owned by institutional investors and hedge funds.
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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.
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