Seabridge Gold (NYSE:SA) Hits New 12-Month High - Here's Why

Key Points

• Seabridge Gold's stock reached a new 52-week high of $27.14, with a significant trading volume of 232,439 shares.
• Despite the recent high, the overall consensus rating for Seabridge Gold among analysts is "Reduce," with mixed opinions on the stock's potential.
• Institutional investors have shown increased interest, with notable stakes boosted significantly, particularly by Kopernik Global Investors and Jones Financial Companies.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA's stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $27.08 and last traded at $27.14, with a volume of 232439 shares traded. The stock had previously closed at $26.14.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SA shares. Wall Street Zen upgraded shares of Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Zacks Research upgraded shares of Seabridge Gold to a "hold" rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Seabridge Gold in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Seabridge Gold has a consensus rating of "Reduce".

Seabridge Gold Price Performance

The company has a debt-to-equity ratio of 0.57, a current ratio of 4.24 and a quick ratio of 4.24. The firm's 50 day moving average is $19.63 and its 200 day moving average is $15.62. The firm has a market cap of $2.81 billion, a P/E ratio of -71.97 and a beta of 0.76.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last issued its earnings results on Wednesday, August 13th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter.

Institutional Investors Weigh In On Seabridge Gold

A number of institutional investors have recently added to or reduced their stakes in SA. Kopernik Global Investors LLC lifted its position in Seabridge Gold by 141.0% during the first quarter. Kopernik Global Investors LLC now owns 7,342,955 shares of the basic materials company's stock valued at $85,692,000 after purchasing an additional 4,295,907 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Seabridge Gold by 912,796.4% in the 1st quarter. Jones Financial Companies Lllp now owns 502,093 shares of the basic materials company's stock worth $5,859,000 after buying an additional 502,038 shares during the period. Russell Investments Group Ltd. increased its stake in Seabridge Gold by 66.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,192,840 shares of the basic materials company's stock worth $13,903,000 after buying an additional 475,352 shares during the period. Ontario Teachers Pension Plan Board increased its position in Seabridge Gold by 36.6% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 1,344,887 shares of the basic materials company's stock valued at $15,657,000 after purchasing an additional 360,183 shares during the period. Finally, Amundi increased its position in Seabridge Gold by 30.3% during the 1st quarter. Amundi now owns 845,655 shares of the basic materials company's stock valued at $9,370,000 after purchasing an additional 196,687 shares during the period. 34.85% of the stock is owned by hedge funds and other institutional investors.

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.

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