Seabridge Gold (NYSE:SA) Hits New 12-Month High – Should You Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $38.34 and last traded at $37.9280, with a volume of 76888 shares traded. The stock had previously closed at $37.40.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SA. 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 reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research note on Monday, December 29th. Zacks Research upgraded Seabridge Gold from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Finally, B. Riley Financial lifted their price target on Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $65.00.

Seabridge Gold Trading Up 2.2%

The firm has a 50 day moving average price of $31.88 and a two-hundred day moving average price of $25.95. The firm has a market capitalization of $4.09 billion, a P/E ratio of -100.55 and a beta of 0.81. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.99 and a current ratio of 2.99.

Institutional Investors Weigh In On Seabridge Gold

Several hedge funds have recently made changes to their positions in SA. Financial Gravity Asset Management Inc. purchased a new position in Seabridge Gold during the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC acquired a new position in Seabridge Gold during the fourth quarter valued at $30,000. Federation des caisses Desjardins du Quebec boosted its position in Seabridge Gold by 77.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 465 shares during the period. Caitlin John LLC purchased a new position in Seabridge Gold during the 3rd quarter valued at about $31,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Seabridge Gold in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors 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.