Seabridge Gold (NYSE:SA) Sets New 52-Week Low - What's Next?

Key Points

• Seabridge Gold shares hit a new 52-week low, falling as low as $23.91 before last trading around $24.15, down 4.6% on the day.
• Analyst sentiment remains weak: the stock has a consensus rating of “Reduce” with a $65.00 price target, while recent notes included a downgrade and a reiterated sell rating.
• The company recently reported break-even-to-slightly negative earnings, posting EPS of -$0.04 in its latest quarter, and analysts expect full-year EPS of -0.17.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA shares hit a new 52-week low during trading on Thursday . The company traded as low as $23.91 and last traded at $24.1540, with a volume of 372999 shares changing hands. The stock had previously closed at $25.55.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Seabridge Gold from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. Zacks Research downgraded shares of Seabridge Gold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Seabridge Gold in a report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Seabridge Gold has a consensus rating of "Reduce" and a consensus price target of $65.00.

Seabridge Gold Trading Down 4.6%

The firm's 50-day moving average is $29.07 and its 200-day moving average is $30.63. 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 has a market cap of $2.62 billion, a price-to-earnings ratio of -50.18 and a beta of 0.89.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last released 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, sell-side analysts anticipate that Seabridge Gold, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Seabridge Gold

Several institutional investors and hedge funds have recently modified their holdings of SA. Baird Financial Group Inc. purchased a new position in shares of Seabridge Gold during the first quarter valued at approximately $122,000. Royal Bank of Canada lifted its stake in Seabridge Gold by 125.3% during the 1st quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company's stock valued at $541,000 after acquiring an additional 25,769 shares in the last quarter. Geode Capital Management LLC lifted its stake in Seabridge Gold by 9.8% during the 2nd quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company's stock valued at $652,000 after acquiring an additional 3,982 shares in the last quarter. Marshall Wace LLP boosted its holdings in Seabridge Gold by 11.4% during the 2nd quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company's stock worth $7,868,000 after acquiring an additional 55,262 shares during the last quarter. Finally, Nebula Research & Development LLC grew its stake in shares of Seabridge Gold by 36.4% in the 2nd quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company's stock worth $402,000 after acquiring an additional 7,374 shares in the last quarter. 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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.

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