Seabridge Gold (NYSE:SA) Hits New 1-Year Low – Time to Sell?

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $23.91 and last traded at $24.1540, with a volume of 372999 shares traded. The stock had previously closed at $25.55.

Wall Street Analysts Forecast Growth

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

Seabridge Gold Stock Performance

The company’s 50-day moving average is $29.07 and its two-hundred day moving average is $30.63. 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 company has a market cap of $2.62 billion, a P/E ratio of -50.18 and a beta of 0.89.

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

Hedge Funds Weigh In On Seabridge Gold

Several institutional investors and hedge funds have recently bought and sold shares of the company. Axiom Investment Management LLC purchased a new stake in Seabridge Gold in the first quarter worth $309,000. Amundi lifted its position in shares of Seabridge Gold by 3.4% during the 1st quarter. Amundi now owns 526,852 shares of the basic materials company’s stock valued at $14,931,000 after buying an additional 17,560 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Seabridge Gold by 18.3% during the 1st quarter. Royal Bank of Canada now owns 313,637 shares of the basic materials company’s stock worth $8,888,000 after acquiring an additional 48,445 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Seabridge Gold during the 1st quarter worth $652,000. Finally, Renaissance Technologies LLC purchased a new stake in Seabridge Gold in the 1st quarter worth about $8,238,000. 34.85% of the stock is owned by institutional investors.

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.