Seabridge Gold (NYSE:SA) Shares Cross Above 200-Day Moving Average – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $30.75 and traded as high as $35.06. Seabridge Gold shares last traded at $34.3440, with a volume of 848,689 shares traded.

Analyst Ratings Changes

SA has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research note 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 cut shares of 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Stock Down 3.3%

The company has a market capitalization of $3.70 billion, a PE ratio of -70.96 and a beta of 0.89. The company’s 50 day moving average is $30.41 and its two-hundred day moving average is $30.75. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). On average, analysts anticipate that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Seabridge Gold

Several institutional investors have recently bought and sold shares of the stock. Baird Financial Group Inc. purchased a new position in shares of Seabridge Gold in the 1st quarter worth $122,000. Royal Bank of Canada lifted its holdings in shares of Seabridge Gold by 125.3% in the 1st quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock valued at $541,000 after acquiring an additional 25,769 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Seabridge Gold by 9.8% in the 2nd quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company’s stock valued at $652,000 after acquiring an additional 3,982 shares during the last quarter. Marshall Wace LLP grew its position in Seabridge Gold by 11.4% in the second quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock worth $7,868,000 after acquiring an additional 55,262 shares in the last quarter. Finally, Nebula Research & Development LLC grew its position in Seabridge Gold by 36.4% in the second quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company’s stock worth $402,000 after acquiring an additional 7,374 shares in the last quarter. 34.85% of the stock is owned by hedge funds and other institutional investors.

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.