Seabridge Gold (NYSE:SA) Stock Passes Above 200 Day Moving Average – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $30.75 and traded as high as $35.06. Seabridge Gold shares last traded at $34.3440, with a volume of 848,689 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research note on Friday, March 27th. Finally, Zacks Research downgraded Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Seabridge Gold presently has an average rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Stock Performance

The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of -60.70 and a beta of 0.89. The company has a fifty day moving average of $30.63 and a two-hundred day moving average of $30.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71.

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

Institutional Trading of Seabridge Gold

Several hedge funds have recently added to or reduced their stakes in the company. Baird Financial Group Inc. acquired a new position in Seabridge Gold in the 1st quarter valued at $122,000. Royal Bank of Canada raised its holdings in Seabridge Gold by 125.3% in the 1st quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock valued at $541,000 after acquiring an additional 25,769 shares in the last quarter. Geode Capital Management LLC raised its holdings in Seabridge Gold by 9.8% in the 2nd quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company’s stock valued at $652,000 after acquiring an additional 3,982 shares in the last quarter. Marshall Wace LLP raised its holdings in Seabridge Gold by 11.4% in the 2nd quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock valued at $7,868,000 after acquiring an additional 55,262 shares in the last quarter. Finally, Nebula Research & Development LLC raised its holdings in Seabridge Gold by 36.4% in the 2nd quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company’s stock valued at $402,000 after acquiring an additional 7,374 shares in the last quarter. 34.85% of the stock is owned by institutional investors and hedge funds.

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.