Seabridge Gold (NYSE:SA) Trading Up 5.2% - What's Next?

Key Points

• Seabridge Gold shares rose 5.2% to approximately $31.73, with about 299,425 shares traded—60% below the stock’s average daily volume.
• Analyst sentiment remains cautious: the stock carries an average “Reduce” rating, with one Buy and two Sell ratings, despite a $40.00 average price target.
• Institutional investors own 34.85% of the company, while recent funds and financial institutions established or increased positions in Seabridge Gold.

Shares of Seabridge Gold, Inc. (NYSE:SA - Get Free Report) TSE: SEA shot up 5.2% during trading on Monday . The stock traded as high as $31.74 and last traded at $31.7310. Approximately 299,425 shares traded hands during trading, a decline of 60% from the average daily volume of 751,280 shares. The stock had previously closed at $30.16.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SA. Weiss Ratings upgraded Seabridge Gold from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 18th. B. Riley Financial started coverage on shares of Seabridge Gold in a research report on Monday, August 3rd. They set a "buy" rating and a $40.00 price target on the stock. Finally, Wall Street Zen raised shares of Seabridge Gold from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. One 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 an average target price of $40.00.

Seabridge Gold Stock Up 5.1%

The firm's 50-day moving average is $27.96 and its two-hundred day moving average is $30.06. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71. The stock has a market cap of $3.41 billion, a P/E ratio of -65.66 and a beta of 0.89.

Institutional Investors Weigh In On Seabridge Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new position in Seabridge Gold in the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC bought a new stake in Seabridge Gold during the 4th quarter worth about $30,000. Federation des caisses Desjardins du Quebec lifted its position in 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 during the period. Banque Cantonale Vaudoise acquired a new position in Seabridge Gold during the 4th quarter valued at about $39,000. Finally, Allworth Financial LP acquired a new position in Seabridge Gold during the 2nd 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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