Seabridge Gold (NYSE:SA) Trading Up 9.6% – Time to Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s share price was up 9.6% during trading on Tuesday . The company traded as high as $29.72 and last traded at $30.4910. Approximately 293,763 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 1,077,433 shares. The stock had previously closed at $27.83.

Analysts Set New Price Targets

A number of equities research analysts have commented on SA shares. Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Zacks Research cut Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings restated 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $65.00.

Seabridge Gold Stock Performance

The firm has a 50-day moving average of $30.68 and a two-hundred day moving average of $30.88. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.97 billion, a PE ratio of -57.00 and a beta of 0.89.

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

Institutional Trading of Seabridge Gold

Several institutional investors have recently bought and sold shares of SA. Van ECK Associates Corp grew its holdings in Seabridge Gold by 210.3% in the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after purchasing an additional 5,543,170 shares during the period. Vanguard Group Inc. grew its holdings in Seabridge Gold by 1,867.5% in the third quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock valued at $31,284,000 after purchasing an additional 1,231,002 shares during the period. Clear Street Group Inc. acquired a new stake in Seabridge Gold in the fourth quarter valued at approximately $25,891,000. Kopernik Global Investors LLC grew its holdings in Seabridge Gold by 5.1% in 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. Finally, Tidal Investments LLC grew its holdings in 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 valued at $74,184,000 after purchasing an additional 339,913 shares during the period. 34.85% of the stock is owned by institutional investors and hedge funds.

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.