Seabridge Gold (NYSE:SA) Reaches New 52-Week High - Should You Buy?

Key Points

• Seabridge Gold shares reached a new 52-week high of $25.65, with the latest trading price at $25.18 and a volume of 417,672 shares.
• Recent analyst ratings include an upgrade to a "hold" from both Wall Street Zen and Zacks Research, while Weiss Ratings maintains a "sell" rating, resulting in a consensus rating of "Reduce."
• Hedge funds and institutional investors have shown interest, with 34.85% of the stock currently being owned by these entities, indicating potential market confidence in the company.

Shares of Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA hit a new 52-week high on Thursday . The company traded as high as $25.65 and last traded at $25.18, with a volume of 417672 shares. The stock had previously closed at $25.12.

Analyst Upgrades and Downgrades

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

Seabridge Gold Trading Down 4.7%

The company has a market capitalization of $2.45 billion, a PE ratio of -63.00 and a beta of 0.76. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $18.87 and a 200-day simple moving average of $15.22.

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

Hedge Funds Weigh In On Seabridge Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of SA. Banque Cantonale Vaudoise purchased a new position in Seabridge Gold during the 1st quarter valued at about $26,000. Ameritas Advisory Services LLC purchased a new position in Seabridge Gold during the 2nd quarter valued at about $26,000. Total Investment Management Inc. purchased a new position in Seabridge Gold during the 2nd quarter valued at about $28,000. Northwest & Ethical Investments L.P. purchased a new position in Seabridge Gold during the 1st quarter valued at about $39,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Seabridge Gold by 100.0% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 3,000 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 1,500 shares during the period. 34.85% of the stock is currently 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.

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