Seabridge Gold (NYSE:SA) Stock Passes Above 200-Day Moving Average – Should You Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $20.19 and traded as high as $30.00. Seabridge Gold shares last traded at $28.44, with a volume of 1,345,807 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SA shares. B. Riley raised their price objective on shares of Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Wall Street Zen lowered shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Zacks Research lowered shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Monday, November 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $65.00.

Seabridge Gold Trading Up 3.9%

The company’s fifty day moving average is $25.97 and its 200-day moving average is $20.30. 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 firm has a market capitalization of $3.10 billion, a P/E ratio of -77.80 and a beta of 0.85.

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 analysts’ consensus estimates of ($0.03) by ($0.20).

Institutional Trading of Seabridge Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC acquired a new position in shares of Seabridge Gold during the second quarter worth approximately $26,000. Total Investment Management Inc. bought a new position in Seabridge Gold during the second quarter worth $28,000. Caitlin John LLC acquired a new position in Seabridge Gold during the 3rd quarter valued at $31,000. Blue Trust Inc. boosted its holdings in Seabridge Gold by 974.0% in the 3rd quarter. Blue Trust Inc. now owns 1,654 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 1,500 shares during the period. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Seabridge Gold by 100.0% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 3,000 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds 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.