Seabridge Gold (NYSE:SA) Hits New 52-Week Low – Here’s What Happened

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares reached a new 52-week low on Thursday . The stock traded as low as $24.73 and last traded at $25.0950, with a volume of 1981117 shares. The stock had previously closed at $27.80.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SA shares. Wall Street Zen upgraded shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a report on Friday, March 27th. Finally, Zacks Research downgraded Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Stock Down 9.7%

The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $2.70 billion, a PE ratio of -51.85 and a beta of 0.89. The stock’s fifty day simple moving average is $30.71 and its 200-day simple moving average is $30.91.

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

Hedge Funds Weigh In On Seabridge Gold

Hedge funds have recently modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Seabridge Gold in the 4th quarter worth approximately $30,000. Smartleaf Asset Management LLC purchased a new stake in shares of Seabridge Gold during the 4th quarter valued at $30,000. Federation des caisses Desjardins du Quebec raised its stake in shares of 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 worth $31,000 after purchasing an additional 465 shares during the period. Caitlin John LLC bought a new stake in shares of Seabridge Gold during the 3rd quarter worth $31,000. Finally, Banque Cantonale Vaudoise purchased a new position in shares of Seabridge Gold in the 4th quarter worth about $39,000. Institutional investors 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.