Seabridge Gold (NYSE:SA) Stock Price Up 7.4% – Still a Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price traded up 7.4% during trading on Wednesday . The stock traded as high as $29.47 and last traded at $29.6470. 343,966 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,081,401 shares. The stock had previously closed at $27.61.

Analyst Ratings Changes

Several research analysts have commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a report on Friday, March 27th. Wall Street Zen raised shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $65.00.

Seabridge Gold Trading Up 1.5%

The stock has a market capitalization of $3.26 billion, a P/E ratio of -62.64 and a beta of 0.83. The firm’s 50 day moving average price is $29.81 and its 200 day moving average price is $30.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). As a group, equities research analysts expect that Seabridge Gold, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seabridge Gold

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. purchased a new stake in Seabridge Gold in the fourth quarter worth about $30,000. Smartleaf Asset Management LLC purchased a new stake in Seabridge Gold in the fourth quarter worth about $30,000. Caitlin John LLC purchased a new stake in Seabridge Gold in the third quarter worth about $31,000. Federation des caisses Desjardins du Quebec grew its holdings in 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. Finally, Banque Cantonale Vaudoise purchased a new stake in Seabridge Gold in the fourth quarter worth about $39,000. Hedge funds and other 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.