Investors Buy High Volume of Put Options on Seabridge Gold (NYSE:SA)

Seabridge Gold Inc. (NYSE:SA - Get Free Report) TSE: SEA was the recipient of unusually large options trading activity on Wednesday. Stock investors purchased 3,395 put options on the stock. This is an increase of approximately 42% compared to the typical volume of 2,384 put options.

Institutional Trading of Seabridge Gold

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp increased its stake in shares of Seabridge Gold by 5.1% during the first quarter. Van ECK Associates Corp now owns 3,680,468 shares of the basic materials company's stock worth $55,649,000 after purchasing an additional 178,672 shares in the last quarter. Privium Fund Management B.V. boosted its position in Seabridge Gold by 9.8% during the first quarter. Privium Fund Management B.V. now owns 38,207 shares of the basic materials company's stock worth $578,000 after acquiring an additional 3,400 shares during the last quarter. U S Global Investors Inc. acquired a new position in Seabridge Gold during the first quarter worth about $227,000. Simplicity Wealth LLC acquired a new position in Seabridge Gold during the first quarter worth about $2,453,000. Finally, Assenagon Asset Management S.A. boosted its position in Seabridge Gold by 81.0% during the first quarter. Assenagon Asset Management S.A. now owns 112,197 shares of the basic materials company's stock worth $1,696,000 after acquiring an additional 50,193 shares during the last quarter. Hedge funds and other institutional investors own 34.85% of the company's stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Seabridge Gold to a "sell" rating in a report on Monday, April 1st.

Seabridge Gold Stock Performance

SA traded up $0.16 on Wednesday, reaching $15.16. The stock had a trading volume of 531,202 shares, compared to its average volume of 552,988. Seabridge Gold has a 12-month low of $9.31 and a 12-month high of $16.71. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.79. The business's 50-day moving average price is $14.11 and its two-hundred day moving average price is $12.31. The company has a market cap of $1.32 billion, a P/E ratio of -38.43 and a beta of 1.11.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last released its quarterly earnings data on Wednesday, March 27th. The basic materials company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.29). Sell-side analysts forecast that Seabridge Gold will post 0.1 earnings per share for the current year.

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.