Seabridge Gold (NYSE:SA) Shares Gap Down – What’s Next?

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) gapped down prior to trading on Monday . The stock had previously closed at $33.55, but opened at $31.81. Seabridge Gold shares last traded at $31.98, with a volume of 192,344 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SA shares. B. Riley Financial lifted 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. Zacks Research upgraded Seabridge Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Wall Street Zen cut shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Seabridge Gold has a consensus rating of “Hold” and a consensus target price of $65.00.

Seabridge Gold Stock Down 2.4%

The company has a market cap of $3.52 billion, a price-to-earnings ratio of -86.21 and a beta of 0.75. The business has a 50-day simple moving average of $32.86 and a two-hundred day simple moving average of $27.07. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.55.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of Seabridge Gold in the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC acquired a new position in shares of Seabridge Gold during the 4th quarter worth about $30,000. Federation des caisses Desjardins du Quebec boosted its stake in Seabridge Gold by 77.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 465 shares during the period. Caitlin John LLC bought a new stake in Seabridge Gold during the 3rd quarter valued at approximately $31,000. Finally, Banque Cantonale Vaudoise acquired a new stake in Seabridge Gold in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 34.85% of the company’s stock.

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.