Seabridge Gold (NYSE:SA) Reaches New 52-Week High – Should You Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $32.52 and last traded at $32.12, with a volume of 421929 shares trading hands. The stock had previously closed at $29.83.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SA shares. Wall Street Zen lowered shares of Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a report on Monday, December 29th. Zacks Research raised shares of Seabridge Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday. Finally, B. Riley lifted their price target on shares of 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 assigned a Sell rating to the company. According to data from MarketBeat.com, Seabridge Gold currently has a consensus rating of “Hold” and a consensus target price of $65.00.

Seabridge Gold Stock Performance

The stock has a market capitalization of $3.32 billion, a PE ratio of -84.26 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.99 and a current ratio of 2.99. The firm’s 50 day moving average is $26.94 and its two-hundred day moving average is $21.52.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its quarterly earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.20).

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitlin John LLC purchased a new position in shares of Seabridge Gold in the 3rd quarter valued at $31,000. Blue Trust Inc. lifted its stake in Seabridge Gold by 974.0% in the third quarter. Blue Trust Inc. now owns 1,654 shares of the basic materials company’s stock valued at $40,000 after buying an additional 1,500 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Seabridge Gold in the second quarter valued at approximately $26,000. Total Investment Management Inc. purchased a new position in shares of Seabridge Gold during the second quarter worth approximately $28,000. Finally, Creative Financial Designs Inc. ADV increased its stake in Seabridge Gold by 100.0% in the second quarter. Creative Financial Designs Inc. ADV now owns 3,000 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,500 shares during the period. 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.