Seabridge Gold (NYSE:SA) Shares Gap Down - Should You Sell?

Key Points

• Seabridge Gold's shares fell significantly, opening at $24.42 after a previous close of $26.59, with a last trade price of $23.25.
• A mix of analyst ratings includes a "hold" rating by Zacks Research and a "sell" rating from Weiss Ratings, indicating uncertainty regarding the stock's performance.
• Institutional investors have shown increased interest in Seabridge Gold, with notable investments increasing holdings by significant percentages in recent quarters.

Shares of Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA gapped down before the market opened on Tuesday . The stock had previously closed at $26.59, but opened at $24.42. Seabridge Gold shares last traded at $23.25, with a volume of 545,298 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SA shares. Zacks Research raised shares of Seabridge Gold to a "hold" rating in a report on Tuesday, September 16th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Seabridge Gold in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Reduce".

Seabridge Gold Trading Down 11.6%

The firm has a market cap of $2.41 billion, a PE ratio of -61.96 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 business has a fifty day moving average price of $20.49 and a 200 day moving average price of $16.11.

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

Institutional Investors Weigh In On Seabridge Gold

Large investors have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Seabridge Gold by 20.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 51,020 shares of the basic materials company's stock valued at $595,000 after purchasing an additional 8,732 shares in the last quarter. Amundi boosted its position in shares of Seabridge Gold by 30.3% during the 1st quarter. Amundi now owns 845,655 shares of the basic materials company's stock worth $9,370,000 after acquiring an additional 196,687 shares in the last quarter. Krilogy Financial LLC bought a new position in Seabridge Gold during the second quarter worth $2,006,000. Dynamic Technology Lab Private Ltd acquired a new stake in Seabridge Gold in the first quarter worth $344,000. Finally, Jones Financial Companies Lllp boosted its holdings in Seabridge Gold by 912,796.4% during the first quarter. Jones Financial Companies Lllp now owns 502,093 shares of the basic materials company's stock worth $5,859,000 after purchasing an additional 502,038 shares during the last quarter. 34.85% of the stock is currently owned by 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.

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