Seabridge Gold (NYSE:SA) Hits New 52-Week High – Time to Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $34.27 and last traded at $33.87, with a volume of 411381 shares changing hands. The stock had previously closed at $33.55.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SA shares. Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday. Finally, B. Riley Financial started coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They set a “buy” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat.com, Seabridge Gold currently has an average rating of “Reduce” and an average target price of $40.00.

Seabridge Gold Price Performance

The company has a 50 day moving average of $27.96 and a 200 day moving average of $30.04. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -61.92 and a beta of 0.89.

Institutional Investors Weigh In On Seabridge Gold

A number of hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Seabridge Gold by 1.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 22,708 shares of the basic materials company’s stock valued at $642,000 after purchasing an additional 345 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its stake in Seabridge Gold by 77.5% during the 4th 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. Pictet Asset Management Holding SA raised its holdings in Seabridge Gold by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,064 shares of the basic materials company’s stock worth $447,000 after buying an additional 522 shares during the period. SG Americas Securities LLC raised its holdings in Seabridge Gold by 2.9% during the 1st quarter. SG Americas Securities LLC now owns 28,926 shares of the basic materials company’s stock worth $820,000 after buying an additional 803 shares during the period. Finally, Uniting Wealth Partners LLC raised its holdings in Seabridge Gold by 8.7% during the 4th quarter. Uniting Wealth Partners LLC now owns 12,530 shares of the basic materials company’s stock worth $371,000 after buying an additional 1,000 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.