Seabridge Gold (NYSE:SA) Shares Gap Down – Should You Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $30.85, but opened at $29.41. Seabridge Gold shares last traded at $28.1760, with a volume of 376,972 shares.

Analyst Ratings Changes

Several research firms recently issued reports on SA. Zacks Research raised Seabridge Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a report on Monday, December 29th. Wall Street Zen lowered Seabridge Gold from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, B. Riley Financial boosted their target price on Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Seabridge Gold currently has an average rating of “Hold” and an average target price of $65.00.

Seabridge Gold Price Performance

The business’s 50 day moving average price is $33.20 and its two-hundred day moving average price is $27.86. The stock has a market cap of $2.98 billion, a P/E ratio of -72.93 and a beta of 0.76. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Total Investment Management Inc. purchased a new position in shares of Seabridge Gold in the 2nd quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. bought a new stake in shares of Seabridge Gold during the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC purchased a new stake in Seabridge Gold in the fourth quarter worth $30,000. Caitlin John LLC purchased a new stake in Seabridge Gold in the third quarter worth $31,000. Finally, Federation des caisses Desjardins du Quebec raised its holdings in Seabridge Gold by 77.5% in 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 in the last quarter. Hedge funds and other institutional investors 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.