Seabridge Gold (NYSE:SA) Hits New 52-Week Low – Here’s What Happened

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $24.73 and last traded at $25.0950, with a volume of 1981117 shares changing hands. The stock had previously closed at $27.80.

Analyst Ratings Changes

A number of analysts have commented on the stock. Zacks Research cut shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Wall Street Zen raised Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Seabridge Gold presently has a consensus rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Stock Down 9.7%

The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $30.71 and its 200-day moving average is $30.91. The company has a market cap of $2.70 billion, a price-to-earnings ratio of -51.85 and a beta of 0.89.

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

Institutional Trading of Seabridge Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in Seabridge Gold by 1.5% in the first quarter. Public Employees Retirement System of Ohio now owns 22,708 shares of the basic materials company’s stock worth $642,000 after acquiring an additional 345 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in shares of Seabridge Gold by 77.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 465 shares in the last quarter. Signaturefd LLC raised its position in shares of Seabridge Gold by 20.2% during the fourth quarter. Signaturefd LLC now owns 2,992 shares of the basic materials company’s stock worth $89,000 after purchasing an additional 502 shares during the period. Pictet Asset Management Holding SA raised its position in shares of Seabridge Gold by 3.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,064 shares of the basic materials company’s stock worth $447,000 after purchasing an additional 522 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Seabridge Gold by 2.9% in the 1st quarter. SG Americas Securities LLC now owns 28,926 shares of the basic materials company’s stock worth $820,000 after purchasing an additional 803 shares in the last quarter. 34.85% of the stock is owned by institutional investors.

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.