Seabridge Gold (NYSE:SA) Reaches New 12-Month High – Time to Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week high on Tuesday . The stock traded as high as $32.54 and last traded at $32.4490, with a volume of 236363 shares traded. The stock had previously closed at $30.86.

Analyst Ratings Changes

Several research firms have recently weighed in on SA. 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. Wall Street Zen downgraded shares of Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Seabridge Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $65.00.

Seabridge Gold Trading Down 1.0%

The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.55. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of -86.08 and a beta of 0.82. The company has a fifty day simple moving average of $29.07 and a 200-day simple moving average of $23.00.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released 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).

Institutional Investors Weigh In On Seabridge Gold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd bought a new position in Seabridge Gold during the second quarter valued at about $404,000. Ontario Teachers Pension Plan Board grew its holdings in shares of Seabridge Gold by 10.8% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 1,490,415 shares of the basic materials company’s stock worth $21,652,000 after purchasing an additional 145,528 shares in the last quarter. TD Asset Management Inc increased its position in shares of Seabridge Gold by 11.5% during the second quarter. TD Asset Management Inc now owns 248,111 shares of the basic materials company’s stock valued at $3,595,000 after purchasing an additional 25,676 shares during the period. Kopernik Global Investors LLC lifted its position in Seabridge Gold by 0.5% in the second quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company’s stock worth $107,195,000 after purchasing an additional 39,651 shares during the period. Finally, Catalyst Funds Management Pty Ltd bought a new position in Seabridge Gold in the second quarter worth $1,158,000. 34.85% of the stock is 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.