Seabridge Gold (NYSE:SA) Shares Gap Up – Here’s What Happened

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares gapped up before the market opened on Tuesday . The stock had previously closed at $27.81, but opened at $30.15. Seabridge Gold shares last traded at $29.5360, with a volume of 170,142 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SA. Zacks Research upgraded shares of Seabridge Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. B. Riley raised their price target on Seabridge Gold from $50.00 to $65.00 and gave the company 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 report on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $65.00.

Seabridge Gold Stock Down 4.8%

The business has a 50-day moving average of $30.67 and a 200 day moving average of $24.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 2.99. The company has a market capitalization of $3.00 billion, a PE ratio of -74.02 and a beta of 0.81.

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

Institutional Trading of Seabridge Gold

Several institutional investors and hedge funds have recently bought and sold shares of the business. Caitlin John LLC acquired a new stake in shares of Seabridge Gold during the 3rd quarter valued at about $31,000. Blue Trust Inc. lifted its holdings in shares of Seabridge Gold by 974.0% in the 3rd quarter. Blue Trust Inc. now owns 1,654 shares of the basic materials company’s stock worth $40,000 after acquiring an additional 1,500 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Seabridge Gold in the second quarter valued at $26,000. Total Investment Management Inc. acquired a new position in shares of Seabridge Gold in the second quarter worth $28,000. Finally, MassMutual Private Wealth & Trust FSB purchased a new stake in Seabridge Gold during the 4th quarter worth about $58,000. 34.85% of the stock is currently 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.