Seabridge Gold (NYSE:SA) Shares Break Above 200 Day Moving Average - What's Next?

Key Points

• Seabridge Gold shares moved above their 200-day moving average of $29.63, reaching $30.81 before last trading at approximately $29.98.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating from two Buy, one Hold and one Sell recommendation, with a consensus price target of $56.00.
• Seabridge Gold has a $3.23 billion market capitalization, strong liquidity with a 6.71 current ratio, and institutional investors own approximately 34.85% of its shares.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA's share price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $29.63 and traded as high as $30.81. Seabridge Gold shares last traded at $29.9770, with a volume of 650,498 shares.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SA shares. Zacks Research raised shares of Seabridge Gold to a "hold" rating in a report on Tuesday, September 1st. B. Riley Financial assumed coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They issued a "buy" rating and a $40.00 price objective for the company. Royal Bank Of Canada raised their price objective on shares of Seabridge Gold from $71.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. 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. Finally, Wall Street Zen upgraded Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.00.

Seabridge Gold Stock Down 3.9%

The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $30.16 and a two-hundred day simple moving average of $29.63. The firm has a market capitalization of $3.23 billion and a P/E ratio of -61.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in shares of Seabridge Gold by 1.5% during the first quarter. Public Employees Retirement System of Ohio now owns 22,708 shares of the basic materials company's stock valued at $642,000 after purchasing an additional 345 shares during the period. SG Americas Securities LLC increased its stake in Seabridge Gold by 2.9% in the 1st quarter. SG Americas Securities LLC now owns 28,926 shares of the basic materials company's stock worth $820,000 after buying an additional 803 shares during the period. Uniting Wealth Partners LLC increased its stake in Seabridge Gold by 8.7% in the 4th quarter. Uniting Wealth Partners LLC now owns 12,530 shares of the basic materials company's stock worth $371,000 after buying an additional 1,000 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold during the 4th quarter valued at about $30,000. Finally, Cetera Investment Advisers lifted its holdings in Seabridge Gold by 5.7% during the 1st quarter. Cetera Investment Advisers now owns 24,803 shares of the basic materials company's stock valued at $703,000 after buying an additional 1,333 shares in the last quarter. 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.