Seabridge Gold (NYSE:SA) Stock Price Up 10% – Time to Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) traded up 10% during trading on Thursday . The stock traded as high as $35.74 and last traded at $36.0160. 400,212 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,111,995 shares. The stock had previously closed at $32.74.

Wall Street Analyst Weigh In

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

Seabridge Gold Stock Up 12.8%

The firm has a market cap of $3.94 billion, a P/E ratio of -97.21 and a beta of 0.82. The firm’s 50 day moving average is $29.07 and its two-hundred day moving average is $23.00. 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 posted its earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.20).

Institutional Investors Weigh In On Seabridge Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of 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 last quarter. Kopernik Global Investors LLC grew its position in Seabridge Gold by 0.5% in the second 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 in the last quarter. Tidal Investments LLC increased 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 buying an additional 339,913 shares during the last quarter. Cibc World Market Inc. increased its stake in Seabridge Gold by 16.5% in the 3rd quarter. Cibc World Market Inc. now owns 2,131,185 shares of the basic materials company’s stock valued at $51,396,000 after buying an additional 302,476 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in Seabridge Gold by 10.8% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 1,490,415 shares of the basic materials company’s stock worth $21,652,000 after buying an additional 145,528 shares in the last quarter. Institutional investors and hedge funds own 34.85% of the company’s stock.

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.