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

Key Points

• Seabridge Gold shares crossed above their 200‑day moving average (200‑day MA $29.17), trading as high as $31.94 and last at $31.10 on volume ~445,428 shares.
• Analysts are mixed but show a consensus "Hold" rating with an average price target of $65.00, comprised of one Buy, one Hold and one Sell; Zacks upgraded to Hold while Weiss Ratings kept a Sell.
• The company reported a quarterly loss of ($0.30) EPS, missing estimates by $0.27; Seabridge has a $3.35 billion market cap and negative P/E (~-86.4) but strong liquidity ratios (current and quick ratio 5.24).

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $29.17 and traded as high as $31.94. Seabridge Gold shares last traded at $31.0990, with a volume of 445,428 shares changing hands.

Analysts Set New Price Targets

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

Seabridge Gold Stock Down 2.0%

The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.53. The stock's 50-day moving average is $31.79 and its 200-day moving average is $29.17. The stock has a market cap of $3.35 billion, a P/E ratio of -86.38 and a beta of 0.92.

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

Hedge Funds Weigh In On Seabridge Gold

Several large investors have recently made changes to their positions in SA. Financial Gravity Asset Management Inc. bought a new position in shares of Seabridge Gold during the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC bought a new position in shares of Seabridge Gold during the 4th quarter valued at about $30,000. Caitlin John LLC bought a new position in shares of Seabridge Gold during the 3rd quarter valued at about $31,000. Federation des caisses Desjardins du Quebec boosted its position in shares of Seabridge Gold by 77.5% during 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. Finally, Banque Cantonale Vaudoise bought a new position in shares of Seabridge Gold during the 4th quarter valued at about $39,000. Institutional investors own 34.85% of the company's stock.

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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