Seabridge Gold (NYSE:SA) Reaches New 1-Year High - Time to Buy?

Key Points

• Seabridge Gold reached a new 52-week high, trading as high as $34.27 before closing near $33.87. Its shares remain above both the 50-day and 200-day moving averages.
• Analyst sentiment is mixed: B. Riley initiated coverage with a Buy rating and a $40 target, while other analysts maintained Sell or Hold ratings. MarketBeat lists a consensus rating of “Reduce” with an average target price of $40.
• Institutional investors made modestly positive adjustments to their positions, and institutions and hedge funds collectively own 34.85% of the stock. Seabridge explores gold, copper, silver, and molybdenum properties in North America.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA's stock price reached a new 52-week high during trading on Thursday . The company traded as high as $34.27 and last traded at $33.87, with a volume of 411381 shares trading hands. The stock had previously closed at $33.55.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings raised shares of Seabridge Gold from a "sell (d-)" rating to a "sell (d)" rating in a report on Tuesday. B. Riley Financial assumed coverage on shares of Seabridge Gold in a research report on Monday, August 3rd. They set a "buy" rating and a $40.00 target price for the company. Finally, Wall Street Zen upgraded shares of Seabridge Gold from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Seabridge Gold presently has a consensus rating of "Reduce" and an average target price of $40.00.

Seabridge Gold Stock Performance

The firm's fifty day moving average price is $27.80 and its 200-day moving average price is $30.00. The company has a market cap of $3.60 billion, a P/E ratio of -69.07 and a beta of 0.89. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46.

Institutional Trading of Seabridge Gold

Several institutional investors have recently made changes to their positions in SA. Public Employees Retirement System of Ohio grew its position in Seabridge Gold by 1.5% in 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 acquiring an additional 345 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in shares of Seabridge Gold by 77.5% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Seabridge Gold by 3.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 15,064 shares of the basic materials company's stock valued at $447,000 after purchasing an additional 522 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of 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 purchasing an additional 803 shares during the last quarter. Finally, Uniting Wealth Partners LLC increased its position in shares of Seabridge Gold by 8.7% during the 4th quarter. Uniting Wealth Partners LLC now owns 12,530 shares of the basic materials company's stock worth $371,000 after purchasing an additional 1,000 shares in the last quarter. 34.85% of the stock is currently owned by institutional investors and hedge funds.

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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.

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