Seabridge Gold (NYSE:SA) Share Price Passes Above 200 Day Moving Average – Here’s Why

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) passed 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 changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SA. Wall Street Zen lowered shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research report 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. Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday. Finally, B. Riley increased their price target on Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Seabridge Gold presently has an average rating of “Reduce” and a consensus target price of $65.00.

Seabridge Gold Stock Down 2.5%

The firm’s fifty day simple moving average is $25.87 and its two-hundred day simple moving average is $20.19. 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 company has a market capitalization of $2.98 billion, a price-to-earnings ratio of -74.84 and a beta of 0.85.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its quarterly earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.20).

Hedge Funds Weigh In On Seabridge Gold

Several large investors have recently modified their holdings of SA. FNY Investment Advisers LLC purchased a new position in shares of Seabridge Gold during the 3rd quarter worth $309,000. Advisory Services Network LLC purchased a new stake in Seabridge Gold in the 3rd quarter valued at about $164,000. NewEdge Advisors LLC lifted its position in Seabridge Gold by 3.7% in the third quarter. NewEdge Advisors LLC now owns 83,097 shares of the basic materials company’s stock valued at $2,007,000 after buying an additional 3,000 shares during the last quarter. Tidal Investments LLC lifted its position in 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 buying an additional 339,913 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Seabridge Gold by 57.4% during the third quarter. Public Employees Retirement System of Ohio now owns 34,906 shares of the basic materials company’s stock worth $843,000 after buying an additional 12,726 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.