Seabridge Gold (NYSE:SA) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Seabridge Gold's stock crossed above its 200-day moving average (200‑day MA $28.73), trading as high as $30.79 and last at $30.52 on volume of 717,647 shares — a short-term technical bullish signal.
• Analyst sentiment is mixed: the consensus rating is "Hold" with a $65 average price target, but broker coverage includes one Buy, one Hold and one Sell and Weiss Ratings recently reiterated a "sell (d-)."
• The company missed quarterly EPS estimates, reporting ($0.30) vs. consensus ($0.03), and shows a negative P/E (-84.78) with a $3.28 billion market cap while institutional investors own about 34.85% of the stock.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA's stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.73 and traded as high as $30.79. Seabridge Gold shares last traded at $30.52, with a volume of 717,647 shares traded.

Analysts Set New Price Targets

A number of analysts recently weighed in on SA shares. Weiss Ratings restated a "sell (d-)" rating on shares of Seabridge Gold in a research note on Friday, March 27th. Zacks Research upgraded shares of Seabridge Gold from a "strong sell" rating to a "hold" rating in a research note on Thursday, January 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $65.00.

Seabridge Gold Price Performance

The stock has a fifty day moving average of $31.75 and a 200-day moving average of $28.73. The company has a quick ratio of 2.99, a current ratio of 5.24 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -84.78 and a beta of 0.92.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last announced its quarterly earnings results on Thursday, March 26th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.27).

Hedge Funds Weigh In On Seabridge Gold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its holdings in Seabridge Gold by 3,413.8% in the third quarter. PNC Financial Services Group Inc. now owns 42,165 shares of the basic materials company's stock valued at $1,018,000 after purchasing an additional 40,965 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Seabridge Gold by 210.3% in the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company's stock valued at $197,514,000 after acquiring an additional 5,543,170 shares during the period. Kopernik Global Investors LLC boosted its holdings in shares of Seabridge Gold by 0.5% in the second quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company's stock valued at $107,195,000 after acquiring an additional 39,651 shares during the period. Elevatus Welath Management acquired a new stake in shares of Seabridge Gold in the third quarter valued at approximately $3,676,000. Finally, Quantbot Technologies LP boosted its holdings in shares of Seabridge Gold by 196.0% in the third quarter. Quantbot Technologies LP now owns 54,171 shares of the basic materials company's stock valued at $1,308,000 after acquiring an additional 35,873 shares during the period. 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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