Seabridge Gold (NYSE:SA) Sets New 52-Week High – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $37.99 and last traded at $36.6470, with a volume of 268193 shares trading hands. The stock had previously closed at $36.37.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research note on Monday, December 29th. B. Riley lifted 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. Finally, Zacks Research upgraded Seabridge Gold from a “strong sell” rating to a “hold” rating in a research 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 given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.00.

Seabridge Gold Trading Down 1.3%

The firm has a market cap of $3.82 billion, a price-to-earnings ratio of -94.31 and a beta of 0.82. The business has a fifty day moving average of $29.59 and a two-hundred day moving average of $23.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.99 and a current ratio of 2.99.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its quarterly earnings data on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.20).

Hedge Funds Weigh In On Seabridge Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of Seabridge Gold by 4.4% in the fourth quarter. CWM LLC now owns 27,826 shares of the basic materials company’s stock valued at $823,000 after purchasing an additional 1,175 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Seabridge Gold by 1,703.9% during the 4th quarter. Farther Finance Advisors LLC now owns 2,760 shares of the basic materials company’s stock valued at $82,000 after buying an additional 2,607 shares during the last quarter. Halbert Hargrove Global Advisors LLC acquired a new stake in Seabridge Gold during the 4th quarter valued at $89,000. Signaturefd LLC increased its position in 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 buying an additional 502 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Seabridge Gold by 12.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 34,126 shares of the basic materials company’s stock worth $1,091,000 after acquiring an additional 3,822 shares during 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.