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 changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. Zacks Research raised shares of Seabridge Gold from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. B. Riley Financial upped their price objective on shares of Seabridge Gold from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Finally, Wall Street Zen downgraded shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.00.

Seabridge Gold Stock Down 10.2%

The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $33.20 and a 200 day simple moving average of $27.86. The firm has a market capitalization of $2.98 billion, a P/E ratio of -72.93 and a beta of 0.76.

Hedge Funds Weigh In On Seabridge Gold

A number of hedge funds have recently bought and sold shares of SA. Van ECK Associates Corp grew its position in Seabridge Gold by 210.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after purchasing an additional 5,543,170 shares during the last quarter. Kopernik Global Investors LLC increased its stake in Seabridge Gold by 0.5% during the 2nd quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company’s stock valued at $107,195,000 after purchasing an additional 39,651 shares in the last quarter. Tidal Investments LLC raised its holdings in Seabridge Gold by 12.4% in the third quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock worth $74,184,000 after buying an additional 339,913 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Seabridge Gold by 82.9% in the fourth quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock worth $70,305,000 after buying an additional 1,074,577 shares in the last quarter. Finally, Cibc World Market Inc. grew its holdings in shares of Seabridge Gold by 2.4% during the fourth quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock valued at $64,712,000 after buying an additional 51,350 shares during the last quarter. Institutional investors own 34.85% of the company’s stock.

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.