Seabridge Gold (NYSE:SA) Stock Price Down 8.5% – Should You Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price traded down 8.5% during trading on Wednesday . The stock traded as low as $24.37 and last traded at $24.2880. 217,699 shares were traded during trading, a decline of 75% from the average daily volume of 872,271 shares. The stock had previously closed at $26.55.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wall Street Zen raised Seabridge Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research downgraded Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $65.00.

Seabridge Gold Price Performance

The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock’s 50 day moving average price is $29.43 and its two-hundred day moving average price is $30.83. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -51.58 and a beta of 0.89.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). Equities research analysts forecast that Seabridge Gold, Inc. will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Seabridge Gold

Several institutional investors have recently made changes to their positions in SA. Van ECK Associates Corp increased its holdings in Seabridge Gold by 210.3% in 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 buying an additional 5,543,170 shares in the last quarter. Kopernik Global Investors LLC boosted its position in Seabridge Gold by 5.1% during the first quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock worth $207,813,000 after purchasing an additional 353,252 shares in the last quarter. Tidal Investments LLC boosted its position in Seabridge Gold by 12.4% during 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 in the last quarter. Vanguard Group Inc. grew its holdings in Seabridge Gold by 82.9% in the fourth quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock valued at $70,305,000 after purchasing an additional 1,074,577 shares during the period. Finally, Cibc World Market Inc. grew its holdings in Seabridge Gold by 2.4% in the fourth quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock valued at $64,712,000 after purchasing an additional 51,350 shares during the period. 34.85% of the stock is owned by hedge funds and other institutional investors.

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.