Seabridge Gold (NYSE:SA) Hits New 12-Month High – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $33.30 and last traded at $32.8180, with a volume of 48808 shares. The stock had previously closed at $32.03.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SA. B. Riley Financial started coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They set a “buy” rating and a $40.00 price target on the stock. Weiss Ratings raised shares of Seabridge Gold from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Seabridge Gold has an average rating of “Reduce” and an average target price of $40.00.

Seabridge Gold Stock Down 0.9%

The stock has a market cap of $3.47 billion, a P/E ratio of -66.59 and a beta of 0.89. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The business has a 50-day simple moving average of $27.39 and a 200-day simple moving average of $30.05.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its quarterly earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). Analysts expect that Seabridge Gold, Inc. will post -0.17 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SA. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold during the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC bought a new position in shares of Seabridge Gold in the fourth quarter worth about $30,000. Federation des caisses Desjardins du Quebec increased its stake in shares of Seabridge Gold by 77.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 465 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Seabridge Gold during the 4th quarter worth about $39,000. Finally, Allworth Financial LP acquired a new position in shares of Seabridge Gold during the 2nd quarter worth about $39,000. Institutional investors own 34.85% of the company’s stock.

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.