Seabridge Gold (NYSE:SA) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Seabridge Gold's share price crossed above its 200-day moving average of $29.44, trading as high as $31.25 and last at $30.17 on volume of about 606,936, a bullish technical signal that may attract momentum buyers.
• Analyst sentiment is largely negative — Zacks downgraded to "strong sell" and Weiss Ratings keeps a "sell (d-)" — leaving a MarketBeat consensus of "Reduce" despite a consensus target price of $65.
• Fundamentals show weakness: the company missed quarterly EPS estimates (reported -$0.30 vs. -$0.03 expected), has a negative PE and modest institutional ownership (~34.9%), indicating operational challenges despite some recent fund buying.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA's share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.44 and traded as high as $31.25. Seabridge Gold shares last traded at $30.1720, with a volume of 606,936 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SA shares. Zacks Research downgraded shares of Seabridge Gold from a "hold" rating to a "strong sell" rating in a report on Tuesday, April 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Seabridge Gold in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $65.00.

Seabridge Gold Trading Down 2.8%

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 company has a fifty day simple moving average of $31.80 and a two-hundred day simple moving average of $29.44. The company has a market cap of $3.25 billion, a PE ratio of -83.81 and a beta of 0.92.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last issued its earnings results on Thursday, March 26th. The basic materials company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.27). Analysts anticipate that Seabridge Gold, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Seabridge Gold

Institutional investors and hedge funds have recently modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Seabridge Gold during the fourth quarter worth $30,000. Smartleaf Asset Management LLC acquired a new stake in Seabridge Gold during the fourth quarter worth approximately $30,000. Caitlin John LLC acquired a new stake in Seabridge Gold during the third quarter worth approximately $31,000. Federation des caisses Desjardins du Quebec raised its holdings in Seabridge Gold by 77.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company's stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Finally, Banque Cantonale Vaudoise acquired a new stake in Seabridge Gold during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 34.85% of the company's stock.

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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