Seabridge Gold (NYSE:SA) Shares Gap Up – Should You Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares gapped up before the market opened on Monday . The stock had previously closed at $28.04, but opened at $30.49. Seabridge Gold shares last traded at $31.2710, with a volume of 162,229 shares changing hands.

Analyst Ratings Changes

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

Seabridge Gold Price Performance

The firm’s fifty day moving average price is $30.64 and its 200 day moving average price is $30.96. The firm has a market capitalization of $3.25 billion, a PE ratio of -62.54 and a beta of 0.89. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). As a group, equities analysts forecast that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Seabridge Gold

Institutional investors have recently modified their holdings of the stock. Financial Gravity Asset Management Inc. purchased a new position in shares of Seabridge Gold during the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC purchased a new stake in Seabridge Gold during the fourth quarter worth $30,000. Caitlin John LLC purchased a new stake in Seabridge Gold during the third quarter worth $31,000. Federation des caisses Desjardins du Quebec boosted its holdings in 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 worth $31,000 after buying an additional 465 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new stake in Seabridge Gold during the fourth quarter worth $39,000. Hedge funds and other institutional investors 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.