Seabridge Gold (NYSE:SA) Sets New 12-Month Low – Time to Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s share price reached a new 52-week low during trading on Friday. The company traded as low as $23.30 and last traded at $24.3250, with a volume of 348,763 shares traded. The stock had previously closed at $24.82.

Analysts Set New Price Targets

Several analysts have issued reports on SA shares. Royal Bank Of Canada upped their price objective on Seabridge Gold from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Weiss Ratings upgraded Seabridge Gold from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. B. Riley Financial initiated coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Zacks Research upgraded Seabridge Gold to a “hold” rating in a report on Tuesday, September 1st. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $56.00.

Seabridge Gold Stock Performance

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 fifty day simple moving average of $29.88 and a two-hundred day simple moving average of $29.36. The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 118.73 and a beta of 0.87.

Institutional Investors Weigh In On Seabridge Gold

Several hedge funds have recently made changes to their positions in the company. Kopernik Global Investors LLC grew its position in Seabridge Gold by 5.1% during the 1st 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 last quarter. Cibc World Market Inc. bought a new position in Seabridge Gold during the second quarter valued at approximately $52,690,000. Ontario Teachers Pension Plan Board bought a new stake in Seabridge Gold in the 2nd quarter worth approximately $45,048,000. Amundi lifted its holdings in shares of Seabridge Gold by 3.4% during the 1st 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 period. Finally, Deutsche Bank AG purchased a new position in shares of Seabridge Gold in the 2nd quarter worth $12,685,000. 34.85% of the stock is currently owned by institutional investors.

About Seabridge Gold

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on discovering and advancing large-scale gold and copper deposits in North America. The company does not currently operate producing mines; its activities center on mineral exploration, resource definition, permitting and project development.

Seabridge’s principal asset is the KSM project in northwestern British Columbia, one of the world’s largest undeveloped gold-copper projects. The company also holds the Iskut project in British Columbia and the Courageous Lake project in Canada’s Northwest Territories.