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

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week high on Monday . The stock traded as high as $32.52 and last traded at $32.12, with a volume of 421929 shares trading hands. The stock had previously closed at $29.83.

Analyst Upgrades and Downgrades

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

Seabridge Gold Stock Up 6.1%

The firm has a 50 day moving average of $26.94 and a two-hundred day moving average of $21.52. The stock has a market capitalization of $3.32 billion, a PE ratio of -84.26 and a beta of 0.82. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.55.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.20).

Hedge Funds Weigh In On Seabridge Gold

Institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its stake in shares of Seabridge Gold by 2.1% during the second quarter. Geneos Wealth Management Inc. now owns 48,810 shares of the basic materials company’s stock valued at $709,000 after acquiring an additional 1,000 shares during the last quarter. Creative Planning boosted its stake in shares of Seabridge Gold by 3.8% during the 3rd quarter. Creative Planning now owns 28,462 shares of the basic materials company’s stock worth $687,000 after purchasing an additional 1,043 shares during the last quarter. CWM LLC boosted its stake in shares of Seabridge Gold by 4.1% during the 3rd quarter. CWM LLC now owns 26,651 shares of the basic materials company’s stock worth $644,000 after purchasing an additional 1,060 shares during the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Seabridge Gold by 41.7% during the third quarter. Creative Financial Designs Inc. ADV now owns 4,250 shares of the basic materials company’s stock worth $103,000 after buying an additional 1,250 shares in the last quarter. Finally, Caitlin John LLC acquired a new position in shares of Seabridge Gold in the third quarter valued at approximately $31,000. 34.85% of the stock is owned by institutional investors and hedge funds.

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.