Seabridge Gold (NYSE:SA) Shares Up 5.7% - Here's Why

Key Points

• Seabridge Gold shares rose 5.7% on Wednesday, briefly touching $27.98 before closing at $27.8630. Trading volume was well below average, with about 157,620 shares changing hands versus a normal session volume of 750,190.
• Recent analyst activity has been mixed to negative, with multiple firms downgrading the stock. MarketBeat notes an overall average rating of "Reduce" and a price target of $65.00, despite one Buy rating among the coverage.
• The company reported Q1 EPS of -$0.04, matching expectations, and analysts currently expect full-year EPS of -0.17. Seabridge Gold continues to focus on gold and other mineral exploration in North America.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA shot up 5.7% during trading on Wednesday . The company traded as high as $27.98 and last traded at $27.8630. Approximately 157,620 shares changed hands during trading, a decline of 79% from the average session volume of 750,190 shares. The stock had previously closed at $26.35.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SA. Weiss Ratings downgraded Seabridge Gold from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, July 16th. Wall Street Zen raised shares of Seabridge Gold from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded shares of Seabridge Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Seabridge Gold presently has an average rating of "Reduce" and an average price target of $65.00.

Seabridge Gold Stock Up 4.3%

The business has a fifty day moving average of $28.53 and a 200 day moving average of $30.48. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -56.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last posted its earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.04). On average, equities 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 large investors have recently bought and sold shares of SA. Financial Gravity Asset Management Inc. acquired a new position in Seabridge Gold during the fourth quarter worth $30,000. Smartleaf Asset Management LLC bought a new stake in shares of Seabridge Gold during the 4th quarter worth about $30,000. Federation des caisses Desjardins du Quebec boosted its stake 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 worth $31,000 after acquiring an additional 465 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Seabridge Gold during the 4th quarter valued at about $39,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of Seabridge Gold by 274.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,706 shares of the basic materials company's stock valued at $50,000 after acquiring an additional 1,250 shares in the last quarter. 34.85% of the stock is currently owned by institutional investors.

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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