Seabridge Gold (NYSE:SA) Trading Down 8.8% – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares fell 8.8% during trading on Thursday . The stock traded as low as $23.58 and last traded at $24.6270. 849,653 shares were traded during mid-day trading, a decline of 26% from the average session volume of 1,153,506 shares. The stock had previously closed at $27.01.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SA. Wall Street Zen downgraded Seabridge Gold from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Zacks Research raised Seabridge Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a report on Monday, December 29th. Finally, B. Riley Financial increased their price objective 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 research 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.com, the stock has an average rating of “Hold” and a consensus target price of $65.00.

Seabridge Gold Trading Down 9.3%

The firm has a market cap of $2.63 billion, a P/E ratio of -64.43 and a beta of 0.76. The company’s 50 day moving average is $33.11 and its two-hundred day moving average is $27.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 2.99.

Institutional Trading of Seabridge Gold

Several institutional investors have recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Seabridge Gold by 210.3% during 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 period. Kopernik Global Investors LLC lifted 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 worth $107,195,000 after purchasing an additional 39,651 shares during the period. Tidal Investments LLC lifted its position in Seabridge Gold by 12.4% in the third quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock worth $74,184,000 after purchasing an additional 339,913 shares during the period. Vanguard Group Inc. boosted its stake in Seabridge Gold by 82.9% during the fourth quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock worth $70,305,000 after buying an additional 1,074,577 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in Seabridge Gold by 2.4% during the fourth quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock worth $64,712,000 after buying an additional 51,350 shares in the last quarter. Institutional investors and hedge funds 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.