Seabridge Gold (NYSE:SA) Stock Price Up 5.2% – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares traded up 5.2% on Monday . The company traded as high as $31.74 and last traded at $31.7310. 299,425 shares were traded during trading, a decline of 60% from the average session volume of 751,280 shares. The stock had previously closed at $30.16.

Wall Street Analysts Forecast Growth

SA has been the topic of a number of recent research reports. Weiss Ratings raised shares of Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. Wall Street Zen upgraded shares of Seabridge Gold from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, B. Riley Financial initiated coverage on Seabridge Gold in a research note on Monday, August 3rd. They issued a “buy” rating and a $40.00 price target on the stock. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $40.00.

Seabridge Gold Stock Performance

The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.41 billion, a P/E ratio of -65.66 and a beta of 0.89. The stock has a fifty day simple moving average of $27.96 and a 200-day simple moving average of $30.06.

Institutional Trading of Seabridge Gold

A number of hedge funds have recently modified their holdings of the company. Cibc World Market Inc. acquired a new stake in Seabridge Gold in the second quarter worth $52,690,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Seabridge Gold in the 2nd quarter valued at $45,048,000. Vanguard Group Inc. increased its position in shares of Seabridge Gold by 1,867.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock valued at $31,284,000 after buying an additional 1,231,002 shares in the last quarter. Clear Street Group Inc. bought a new stake in shares of Seabridge Gold in the 4th quarter valued at $25,891,000. Finally, Deutsche Bank AG acquired a new stake in Seabridge Gold during the 2nd quarter worth $12,685,000. 34.85% of the stock is currently owned by institutional investors and hedge funds.

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.