Seabridge Gold (NYSE:SA) Stock Price Down 7.1% – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares fell 7.1% during trading on Wednesday . The company traded as low as $25.24 and last traded at $25.1450. Approximately 200,604 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 1,050,038 shares. The stock had previously closed at $27.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $65.00.

Seabridge Gold Stock Down 9.2%

The stock has a market cap of $2.65 billion, a PE ratio of -50.81 and a beta of 0.89. 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 company’s 50-day moving average price is $30.46 and its 200 day moving average price is $31.06.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). As a group, analysts forecast that Seabridge Gold, Inc. will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Seabridge Gold

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in Seabridge Gold by 210.3% in the 3rd quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after acquiring an additional 5,543,170 shares during the last quarter. Kopernik Global Investors LLC boosted its stake in shares of Seabridge Gold by 5.1% during the first quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock valued at $207,813,000 after purchasing an additional 353,252 shares during the period. Tidal Investments LLC grew its holdings in shares of Seabridge Gold by 12.4% in the third quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock worth $74,184,000 after purchasing an additional 339,913 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Seabridge Gold by 82.9% in the fourth quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock worth $70,305,000 after purchasing an additional 1,074,577 shares during the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of Seabridge Gold by 2.4% in the fourth quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock worth $64,712,000 after purchasing an additional 51,350 shares during the last quarter. 34.85% of the stock is owned by hedge funds and other 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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.