Seabridge Gold (NYSE:SA) Stock Price Up 5.7% – Time to Buy?

Shares of Seabridge Gold, Inc. (NYSE:SAGet Free Report) (TSE:SEA) were up 5.7% during mid-day trading on Wednesday . The stock traded as high as $27.98 and last traded at $27.8630. 157,620 shares changed hands during trading, a decline of 79% from the average daily volume of 750,190 shares. The stock had previously closed at $26.35.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SA. Weiss Ratings lowered Seabridge Gold from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 16th. Wall Street Zen raised shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $65.00.

Check Out Our Latest Analysis on Seabridge Gold

Seabridge Gold Price Performance

The stock has a market capitalization of $2.80 billion, a P/E ratio of -53.67 and a beta of 0.89. The company has a 50 day moving average of $28.30 and a 200-day moving average of $30.44. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46.

Seabridge Gold (NYSE:SAGet Free Report) (TSE:SEA) last released its earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Sell-side analysts predict that Seabridge Gold, Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Seabridge Gold

A number of institutional investors have recently modified their holdings of the business. Financial Gravity Asset Management Inc. bought a new position in Seabridge Gold in the fourth quarter worth about $30,000. Smartleaf Asset Management LLC bought a new position in shares of Seabridge Gold during the fourth quarter valued at approximately $30,000. Federation des caisses Desjardins du Quebec raised its position in shares of Seabridge Gold by 77.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 465 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Seabridge Gold during the 4th quarter worth approximately $39,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Seabridge Gold by 274.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,706 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 1,250 shares during the last quarter. Institutional investors own 34.85% of the company’s stock.

About Seabridge Gold

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Seabridge Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seabridge Gold and related companies with MarketBeat.com's FREE daily email newsletter.