Seabridge Gold (NYSE:SA) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Seabridge Gold shares briefly moved above their 200-day moving average of $29.96, reaching $30.07 before trading at $29.61; the stock was reported down 4.5%.
• Analyst sentiment is mixed, with one Buy, one Hold and one Sell rating, producing a consensus Hold rating and a $40.00 price target.
• Institutional ownership stands at 34.85%, with several large investors adding positions, while Seabridge continues developing its major KSM gold-and-copper project and other mineral assets.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.96 and traded as high as $30.07. Seabridge Gold shares last traded at $29.6140, with a volume of 461,464 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SA. B. Riley Financial initiated coverage on Seabridge Gold in a report on Monday, August 3rd. They set a "buy" rating and a $40.00 price objective on the stock. Zacks Research upgraded Seabridge Gold to a "hold" rating in a research note on Tuesday, September 1st. Wall Street Zen raised shares of Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Weiss Ratings upgraded shares of Seabridge Gold from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Seabridge Gold currently has a consensus rating of "Hold" and a consensus price target of $40.00.

Seabridge Gold Trading Down 4.5%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71. The business's 50 day moving average price is $29.35 and its 200-day moving average price is $29.96. The firm has a market cap of $3.19 billion and a price-to-earnings ratio of -61.19.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Seabridge Gold by 18.3% in the first quarter. Royal Bank of Canada now owns 313,637 shares of the basic materials company's stock worth $8,888,000 after purchasing an additional 48,445 shares during the period. Deutsche Bank AG bought a new stake in Seabridge Gold during the second quarter valued at $12,685,000. Cibc World Market Inc. acquired a new stake in shares of Seabridge Gold during the second quarter worth $52,690,000. Renaissance Technologies LLC acquired a new stake in shares of Seabridge Gold during the first quarter worth $8,238,000. Finally, Kopernik Global Investors LLC raised its holdings in shares of Seabridge Gold by 5.1% during 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 purchasing an additional 353,252 shares during the period. Institutional investors own 34.85% of the company's stock.

Seabridge Gold Company Profile

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on advancing large-scale gold and copper projects in North America. The company does not operate producing mines; its activities center on acquiring, exploring, evaluating and permitting mineral properties.

Seabridge's principal asset is the KSM project in northwestern British Columbia, a large undeveloped gold, copper, silver and molybdenum project. The company also holds interests in the Iskut project in British Columbia, the Courageous Lake project in Canada's Northwest Territories, and the Snowstorm project in Nevada.

Founded in 1999, Seabridge Gold is headquartered in Toronto, Canada, and its shares trade on the New York Stock Exchange under the symbol SA and on the Toronto Stock Exchange under the symbol SEA.

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