Seabridge Gold (NYSE:SA) Stock Price Down 3.4% - Here's What Happened

Key Points

• Seabridge Gold shares fell by 3.4% to $24.00, with a trading volume of approximately 887,986 shares, reflecting a 6% decline from the average daily volume.
• Brokerages have mixed ratings on Seabridge Gold, with one analyst upgrading the stock to a "hold", while another has maintained a "sell" rating, leading to a consensus rating of "Reduce."
• Seabridge Gold reported earnings of $0.09 per share for the last quarter, and institutional investors currently own 34.85% of the company's stock.

Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA shares dropped 3.4% during trading on Friday . The company traded as low as $24.22 and last traded at $24.00. Approximately 887,986 shares were traded during trading, a decline of 6% from the average daily volume of 949,227 shares. The stock had previously closed at $24.85.

Analysts Set New Price Targets

A number of brokerages have weighed in on SA. Wall Street Zen upgraded Seabridge Gold from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Zacks Research upgraded Seabridge Gold to a "hold" rating in a research report on Tuesday, September 16th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Seabridge Gold in a research report on Saturday, September 27th. One analyst has rated the stock with 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 "Reduce".

Seabridge Gold Price Performance

The stock has a market capitalization of $2.47 billion, a P/E ratio of -63.61 and a beta of 0.76. The business has a fifty day simple moving average of $18.15 and a 200-day simple moving average of $14.88. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.24 and a current ratio of 4.24.

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

Hedge Funds Weigh In On Seabridge Gold

Large investors have recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of Seabridge Gold in the 1st quarter worth $26,000. Ameritas Advisory Services LLC bought a new position in Seabridge Gold during the 2nd quarter valued at $26,000. Total Investment Management Inc. bought a new position in Seabridge Gold during the 2nd quarter valued at $28,000. Northwest & Ethical Investments L.P. bought a new position in Seabridge Gold during the 1st quarter valued at $39,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Seabridge Gold by 100.0% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 3,000 shares of the basic materials company's stock valued at $44,000 after acquiring an additional 1,500 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.

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