Seabridge Gold (NYSE:SA) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $29.96 and traded as high as $30.07. Seabridge Gold shares last traded at $29.6140, with a volume of 461,464 shares traded.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SA shares. Wall Street Zen raised Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Royal Bank Of Canada upped their target price on shares of Seabridge Gold from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday. Weiss Ratings raised shares of Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. B. Riley Financial initiated coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Zacks Research raised Seabridge Gold to a “hold” rating in a research report on Tuesday, September 1st. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Seabridge Gold has a consensus rating of “Hold” and an average target price of $56.00.

Seabridge Gold Trading Down 0.8%

The firm has a market capitalization of $3.14 billion and a PE ratio of -59.60. The firm has a 50 day simple moving average of $29.40 and a 200 day simple moving average of $29.90. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46.

Hedge Funds Weigh In On Seabridge Gold

A number of hedge funds have recently bought and sold shares of SA. Kopernik Global Investors LLC boosted its holdings in shares of Seabridge Gold by 5.1% during the 1st quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock valued at $207,813,000 after acquiring an additional 353,252 shares during the last quarter. Cibc World Market Inc. lifted its position in Seabridge Gold by 2.4% during the fourth quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock valued at $64,712,000 after purchasing an additional 51,350 shares during the period. Ontario Teachers Pension Plan Board purchased a new stake in Seabridge Gold in the second quarter worth approximately $45,048,000. Clear Street Group Inc. bought a new stake in Seabridge Gold in the 4th quarter worth approximately $25,891,000. Finally, TD Asset Management Inc grew its position in Seabridge Gold by 109.1% in the 4th quarter. TD Asset Management Inc now owns 539,446 shares of the basic materials company’s stock worth $16,013,000 after purchasing an additional 281,512 shares during the period. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Seabridge Gold Company Profile

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on advancing large-scale gold and copper projects in North America. The company does not operate producing mines; its activities center on acquiring, exploring, evaluating and permitting mineral properties.

Seabridge’s principal asset is the KSM project in northwestern British Columbia, a large undeveloped gold, copper, silver and molybdenum project. The company also holds interests in the Iskut project in British Columbia, the Courageous Lake project in Canada’s Northwest Territories, and the Snowstorm project in Nevada.

Founded in 1999, Seabridge Gold is headquartered in Toronto, Canada, and its shares trade on the New York Stock Exchange under the symbol SA and on the Toronto Stock Exchange under the symbol SEA.