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

Key Points

• Seabridge Gold's stock reached a new 52-week high at $21.08, closing just below that at $20.73 with a trading volume of 144,427 shares.
• Analyst ratings for Seabridge Gold have seen upgrades recently, with both Wall Street Zen and Zacks Research moving their ratings to a "hold" status.
• Institutional investors have significantly increased their stakes in Seabridge Gold, with Bank of America Corp DE acquiring an additional 240,756 shares, raising its ownership by 138.6% in the fourth quarter.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA shares reached a new 52-week high on Monday . The company traded as high as $21.08 and last traded at $20.73, with a volume of 144427 shares traded. The stock had previously closed at $20.15.

Wall Street Analysts Forecast Growth

SA has been the topic of several recent research reports. Wall Street Zen upgraded Seabridge Gold from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Zacks Research upgraded Seabridge Gold to a "hold" rating in a report on Tuesday, September 16th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Seabridge Gold presently has a consensus rating of "Hold".

Seabridge Gold Trading Up 8.9%

The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $17.07 and a 200-day simple moving average of $14.27. The company has a market cap of $2.24 billion, a PE ratio of -57.74 and a beta of 0.68.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last posted its quarterly earnings data 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 and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Seabridge Gold by 20.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 51,020 shares of the basic materials company's stock valued at $595,000 after buying an additional 8,732 shares in the last quarter. Amundi raised its position in shares of Seabridge Gold by 30.3% in the first quarter. Amundi now owns 845,655 shares of the basic materials company's stock valued at $9,370,000 after buying an additional 196,687 shares during the last quarter. Krilogy Financial LLC purchased a new position in shares of Seabridge Gold during the second quarter valued at approximately $2,006,000. Dynamic Technology Lab Private Ltd acquired a new stake in Seabridge Gold during the first quarter worth approximately $344,000. Finally, Jones Financial Companies Lllp raised its holdings 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 valued at $5,859,000 after acquiring an additional 502,038 shares during the last quarter. 34.85% of the stock is owned by hedge funds and other institutional investors.

About Seabridge Gold

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.