Seabridge Gold (NYSE:SA) Hits New 52-Week High – Still a Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $30.82 and last traded at $27.86, with a volume of 2089534 shares changing hands. The stock had previously closed at $27.83.

Wall Street Analysts Forecast Growth

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

Seabridge Gold Price Performance

The company’s 50-day simple moving average is $30.72 and its 200-day simple moving average is $30.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of -57.56 and a beta of 0.89.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Research analysts forecast that Seabridge Gold, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seabridge Gold

Several hedge funds have recently bought and sold shares of SA. Financial Gravity Asset Management Inc. bought a new position in shares of Seabridge Gold during the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC bought a new position in shares of Seabridge Gold during the fourth quarter worth approximately $30,000. Caitlin John LLC bought a new position in shares of Seabridge Gold during the third quarter worth approximately $31,000. Federation des caisses Desjardins du Quebec increased its holdings in shares of Seabridge Gold by 77.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 465 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of Seabridge Gold during the fourth quarter worth approximately $39,000. 34.85% of the stock is currently 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.