Seabridge Gold (NYSE:SA) Hits New 1-Year Low - Here's What Happened

Key Points

• Seabridge Gold hit a new 52-week low during Tuesday trading, falling to $23.26; shares were last at $23.466, down from the prior close of $24.01.
• Analyst views are mixed, but MarketBeat reports a consensus Hold rating and an average price target of $56.00.
• Seabridge is a Canadian exploration and development company with no producing mines; its key asset is the large KSM gold-copper project in British Columbia.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA's share price hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $23.26 and last traded at $23.4660, with a volume of 414,140 shares. The stock had previously closed at $24.01.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research upgraded shares of Seabridge Gold to a "hold" rating in a report on Tuesday, September 1st. Royal Bank Of Canada lifted their price objective on shares of Seabridge Gold from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. B. Riley Financial initiated coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They set a "buy" rating and a $40.00 target price for the company. Wall Street Zen raised Seabridge Gold from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Weiss Ratings raised Seabridge Gold from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $56.00.

Seabridge Gold Trading Down 2.3%

The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. The business's 50 day simple moving average is $28.92 and its 200 day simple moving average is $29.94. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 113.92 and a beta of 0.87.

Institutional Trading of Seabridge Gold

A number of institutional investors have recently added to or reduced their stakes in SA. Kopernik Global Investors LLC raised its holdings in shares of Seabridge Gold by 5.1% in the first quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company's stock worth $207,813,000 after acquiring an additional 353,252 shares during the last quarter. Cibc World Market Inc. acquired a new stake in shares of Seabridge Gold during the second quarter valued at $52,690,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Seabridge Gold during the second quarter valued at $45,048,000. Alps Advisors Inc. boosted its stake in shares of Seabridge Gold by 30.4% during the third quarter. Alps Advisors Inc. now owns 571,766 shares of the basic materials company's stock valued at $16,204,000 after acquiring an additional 133,368 shares during the last quarter. Finally, Amundi boosted its stake in shares of Seabridge Gold by 3.4% during the first quarter. Amundi now owns 526,852 shares of the basic materials company's stock valued at $14,931,000 after acquiring an additional 17,560 shares during the last quarter. Hedge funds and other institutional investors own 34.85% of the company's stock.

About Seabridge Gold

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on discovering and advancing large-scale gold and copper deposits in North America. The company does not currently operate producing mines; its activities center on mineral exploration, resource definition, permitting and project development.

Seabridge's principal asset is the KSM project in northwestern British Columbia, one of the world's largest undeveloped gold-copper projects. The company also holds the Iskut project in British Columbia and the Courageous Lake project in Canada's Northwest Territories.

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