Seabridge Gold (NYSE:SA) Hits New 52-Week Low – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $23.26 and last traded at $23.4660, with a volume of 414,140 shares. The stock had previously closed at $24.01.

Wall Street Analyst Weigh In

SA has been the topic of several recent research reports. Weiss Ratings raised shares of Seabridge Gold from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Royal Bank Of Canada raised their price objective on shares of Seabridge Gold from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 16th. Zacks Research raised shares of Seabridge Gold to a “hold” rating in a research note on Tuesday, September 1st. Wall Street Zen raised shares of Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, B. Riley Financial initiated coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They issued a “buy” rating and a $40.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Seabridge Gold currently has an average rating of “Hold” and an average target price of $56.00.

Seabridge Gold Stock Up 0.7%

The firm has a 50-day moving average of $28.36 and a two-hundred day moving average of $29.84. 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 capitalization of $2.76 billion, a PE ratio of 120.67 and a beta of 0.84.

Hedge Funds Weigh In On Seabridge Gold

Several large investors have recently modified their holdings of the business. Kopernik Global Investors LLC boosted its position in shares of 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 buying an additional 353,252 shares during the period. Cibc World Market Inc. acquired a new stake in shares of Seabridge Gold in the second quarter valued at $52,690,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Seabridge Gold in the second quarter valued at $45,048,000. Alps Advisors Inc. raised its holdings in shares of Seabridge Gold by 30.4% in the 3rd quarter. Alps Advisors Inc. now owns 571,766 shares of the basic materials company’s stock valued at $16,204,000 after buying an additional 133,368 shares during the period. Finally, Amundi raised its holdings in shares of Seabridge Gold by 3.4% in 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 period. Institutional investors and hedge funds own 34.85% of the company’s stock.

Seabridge Gold Company Profile

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on discovering and advancing large-scale gold and copper deposits in North America. The company does not currently operate producing mines; its activities center on mineral exploration, resource definition, permitting and project development.

Seabridge’s principal asset is the KSM project in northwestern British Columbia, one of the world’s largest undeveloped gold-copper projects. The company also holds the Iskut project in British Columbia and the Courageous Lake project in Canada’s Northwest Territories.