Seabridge Gold (NYSE:SA) Sets New 1-Year Low – Here’s Why

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week low during trading on Thursday . The stock traded as low as $23.91 and last traded at $24.1540, with a volume of 372999 shares traded. The stock had previously closed at $25.55.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Weiss Ratings cut shares of Seabridge Gold from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Finally, Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Price Performance

The firm has a 50 day moving average price of $28.84 and a two-hundred day moving average price of $30.54. The company has a market cap of $2.65 billion, a P/E ratio of -50.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). On average, analysts predict that Seabridge Gold, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Seabridge Gold by 1,867.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock valued at $31,284,000 after buying an additional 1,231,002 shares in the last quarter. Clear Street Group Inc. purchased a new stake in shares of Seabridge Gold in the fourth quarter worth about $25,891,000. Kopernik Global Investors LLC boosted its position in shares of Seabridge Gold by 5.1% in the first 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 period. Tidal Investments LLC boosted its position in shares of Seabridge Gold by 12.4% in the third quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock valued at $74,184,000 after acquiring an additional 339,913 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Seabridge Gold during the first quarter valued at approximately $8,238,000. 34.85% of the stock is owned by institutional investors.

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.