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

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $30.82 and last traded at $27.86, with a volume of 2089534 shares traded. The stock had previously closed at $27.83.

Analyst Upgrades and Downgrades

SA has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a report on Friday, March 27th. Wall Street Zen raised shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research cut shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Seabridge Gold currently has an average rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Price Performance

The business’s 50 day moving average is $30.72 and its 200-day moving average is $30.90. The firm has a market capitalization of $3.00 billion, a P/E ratio of -57.56 and a beta of 0.89. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). As a group, sell-side analysts predict that Seabridge Gold, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SA. Van ECK Associates Corp increased its stake in Seabridge Gold by 210.3% in the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after acquiring an additional 5,543,170 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Seabridge Gold by 1,867.5% during the third quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock worth $31,284,000 after buying an additional 1,231,002 shares during the last quarter. Clear Street Group Inc. bought a new stake in shares of Seabridge Gold during the fourth quarter worth $25,891,000. Kopernik Global Investors LLC grew its stake 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 last quarter. Finally, Tidal Investments LLC grew its stake in shares of Seabridge Gold by 12.4% during 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. 34.85% of the stock is owned by institutional investors.

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.