Seabridge Gold (NYSE:SA) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $29.63 and traded as high as $30.81. Seabridge Gold shares last traded at $29.9770, with a volume of 650,498 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Weiss Ratings raised shares of Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. Wall Street Zen raised shares of Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research upgraded shares of Seabridge Gold to a “hold” rating in a report on Tuesday, September 1st. B. Riley Financial initiated coverage on Seabridge Gold in a research report on Monday, August 3rd. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Royal Bank Of Canada upped their target price on Seabridge Gold from $71.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.00.

Seabridge Gold Stock Up 1.1%

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’s 50-day moving average price is $30.28 and its two-hundred day moving average price is $29.63. The stock has a market capitalization of $3.27 billion and a PE ratio of -62.60.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. purchased a new position in shares of Seabridge Gold in the 2nd quarter worth about $259,000. The Manufacturers Life Insurance Company grew its holdings in shares of Seabridge Gold by 2.4% during the second quarter. The Manufacturers Life Insurance Company now owns 89,153 shares of the basic materials company’s stock valued at $2,296,000 after buying an additional 2,047 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in Seabridge Gold by 28.3% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 11,822 shares of the basic materials company’s stock worth $304,000 after acquiring an additional 2,611 shares during the last quarter. HighTower Advisors LLC lifted its position in Seabridge Gold by 29.7% in the 2nd quarter. HighTower Advisors LLC now owns 12,107 shares of the basic materials company’s stock valued at $312,000 after acquiring an additional 2,770 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC bought a new position in Seabridge Gold in the 2nd quarter valued at approximately $748,000. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Seabridge Gold Company Profile

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on advancing large-scale gold and copper projects in North America. The company does not operate producing mines; its activities center on acquiring, exploring, evaluating and permitting mineral properties.

Seabridge’s principal asset is the KSM project in northwestern British Columbia, a large undeveloped gold, copper, silver and molybdenum project. The company also holds interests in the Iskut project in British Columbia, the Courageous Lake project in Canada’s Northwest Territories, and the Snowstorm project in Nevada.

Founded in 1999, Seabridge Gold is headquartered in Toronto, Canada, and its shares trade on the New York Stock Exchange under the symbol SA and on the Toronto Stock Exchange under the symbol SEA.