Seabridge Gold (NYSE:SA) Sets New 12-Month High - Here's What Happened

Key Points

• Seabridge Gold hit a new 52-week high, reaching $35.12 and trading around $35.05, up 6.1% from its prior close, with nearly 956,000 shares changing hands.
• Analyst sentiment remains mixed: B. Riley initiated coverage with a Buy rating and a $40 price target, while other firms moved the stock from Sell to Hold or issued a slightly improved Sell rating. MarketBeat’s consensus is “Reduce” with a $40 average target.
• Institutional investors own 34.85% of the company, while Seabridge reports strong liquidity with current and quick ratios of 6.71 and a debt-to-equity ratio of 0.46.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $35.12 and last traded at $35.0520, with a volume of 955293 shares traded. The stock had previously closed at $33.03.

Analyst Ratings Changes

A number of research firms recently commented on SA. B. Riley Financial assumed coverage on Seabridge Gold in a research note on Monday, August 3rd. They issued a "buy" rating and a $40.00 target price on the stock. Weiss Ratings raised Seabridge Gold from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen upgraded Seabridge Gold from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. One equities 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, Seabridge Gold currently has an average rating of "Reduce" and an average price target of $40.00.

Seabridge Gold Trading Up 6.1%

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 firm's 50 day moving average is $28.09 and its 200 day moving average is $30.12. The company has a market capitalization of $3.77 billion, a PE ratio of -72.42 and a beta of 0.89.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. purchased a new position in shares of Seabridge Gold during the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC purchased a new stake in Seabridge Gold in the fourth quarter worth $30,000. Federation des caisses Desjardins du Quebec lifted its stake in Seabridge Gold by 77.5% in 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 acquiring an additional 465 shares during the period. Banque Cantonale Vaudoise bought a new stake in Seabridge Gold in the fourth quarter valued at $39,000. Finally, Allworth Financial LP bought a new stake in Seabridge Gold in the second quarter valued at $39,000. Hedge funds and other 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.

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