Seabridge Gold (NYSE:SA) Sees Large Volume Increase – Time to Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares saw an uptick in trading volume on Thursday . 2,323,537 shares traded hands during trading, an increase of 85% from the previous session’s volume of 1,258,022 shares.The stock last traded at $32.7230 and had previously closed at $34.64.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SA shares. Wall Street Zen cut shares of Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Zacks Research upgraded shares of Seabridge Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research note on Monday, December 29th. Finally, B. Riley boosted their price target on Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Seabridge Gold currently has a consensus rating of “Hold” and a consensus price target of $65.00.

Seabridge Gold Stock Performance

The company’s 50-day simple moving average is $30.18 and its 200-day simple moving average is $23.70. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -87.11 and a beta of 0.82. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.55.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.20).

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in Seabridge Gold by 210.3% during the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock worth $197,514,000 after purchasing an additional 5,543,170 shares during the last quarter. Kopernik Global Investors LLC grew its stake in Seabridge Gold by 0.5% in the 2nd quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company’s stock valued at $107,195,000 after purchasing an additional 39,651 shares during the period. Tidal Investments LLC grew its stake in Seabridge Gold by 12.4% in the 3rd 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. Vanguard Group Inc. increased its position in shares of Seabridge Gold by 82.9% during the 4th quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock valued at $70,305,000 after purchasing an additional 1,074,577 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in shares of Seabridge Gold by 16.5% during the 3rd quarter. Cibc World Market Inc. now owns 2,131,185 shares of the basic materials company’s stock worth $51,396,000 after purchasing an additional 302,476 shares during the period. Institutional investors and hedge funds own 34.85% of the company’s stock.

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.