Seabridge Gold (NYSE:SA) Sets New 1-Year High - Should You Buy?

Key Points

• Seabridge Gold shares reached a new 52-week high, trading as high as $33.30 and recently up about 2.5%, giving the company a market capitalization of roughly $3.53 billion.
• Analyst sentiment remains mixed to negative: one analyst rates the stock a Buy while two rate it Sell, resulting in a consensus “Reduce” rating despite an average price target of $40.
• The company met quarterly earnings expectations with a loss of $0.04 per share, while institutional investors and hedge funds own approximately 34.85% of the stock.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA's share price hit a new 52-week high on Wednesday . The stock traded as high as $33.30 and last traded at $32.8180, with a volume of 48808 shares trading hands. The stock had previously closed at $32.03.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SA shares. Zacks Research lowered shares of Seabridge Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 14th. Wall Street Zen raised Seabridge Gold from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Weiss Ratings upgraded Seabridge Gold from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Finally, B. Riley Financial started coverage on Seabridge Gold in a report on Monday, August 3rd. They issued a "buy" rating and a $40.00 target price for the company. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $40.00.

Seabridge Gold Stock Up 2.5%

The stock has a market capitalization of $3.53 billion, a P/E ratio of -67.92 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. The firm's fifty day moving average is $27.46 and its 200-day moving average is $30.11.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last issued its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). As a group, equities research analysts predict that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Seabridge Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. acquired a new position in Seabridge Gold in the fourth quarter worth $30,000. Smartleaf Asset Management LLC acquired a new stake in shares of Seabridge Gold in the fourth quarter valued at $30,000. Federation des caisses Desjardins du Quebec increased its stake in shares of Seabridge Gold by 77.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company's stock valued at $31,000 after buying an additional 465 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Seabridge Gold in the fourth quarter valued at about $39,000. Finally, Allworth Financial LP bought a new position in shares of Seabridge Gold in the second quarter valued at about $39,000. 34.85% of the stock is 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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