Seabridge Gold (NYSE:SA) Reaches New 52-Week Low – Should You Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $23.91 and last traded at $24.68, with a volume of 945422 shares. The stock had previously closed at $27.06.

Analyst Ratings Changes

A number of research firms have commented on SA. 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. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research note on Friday, March 27th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $65.00.

Seabridge Gold Price Performance

The stock’s 50-day moving average is $30.33 and its 200 day moving average is $31.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. The company has a market cap of $2.66 billion, a PE ratio of -50.99 and a beta of 0.89.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). On average, equities analysts anticipate that Seabridge Gold, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Axiom Investment Management LLC acquired a new position in Seabridge Gold during the 1st quarter valued at about $309,000. Amundi raised its stake in Seabridge Gold by 3.4% in the first quarter. Amundi now owns 526,852 shares of the basic materials company’s stock valued at $14,931,000 after buying an additional 17,560 shares during the last quarter. Royal Bank of Canada boosted its holdings in Seabridge Gold by 18.3% in the first quarter. Royal Bank of Canada now owns 313,637 shares of the basic materials company’s stock worth $8,888,000 after acquiring an additional 48,445 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Seabridge Gold in the first quarter worth about $652,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Seabridge Gold during the first quarter worth about $8,238,000. 34.85% of the stock is currently 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.