Seabridge Gold (NYSE:SA) Sets New 52-Week High – Time to Buy?

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) reached a new 52-week high during trading on Wednesday . The company traded as high as $30.82 and last traded at $27.86, with a volume of 2089534 shares changing hands. The stock had previously closed at $27.83.

Analyst Ratings Changes

A number of research firms have commented on SA. Zacks Research lowered shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research note on Friday, March 27th. Finally, 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. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $65.00.

Seabridge Gold Stock Up 7.7%

The business has a fifty day moving average of $30.69 and a 200 day moving average of $30.94. The stock has a market cap of $2.90 billion, a price-to-earnings ratio of -55.76 and a beta of 0.89. 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 data on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04). On average, equities analysts predict that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Seabridge Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SA. Van ECK Associates Corp grew its holdings in Seabridge Gold by 210.3% during the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after purchasing an additional 5,543,170 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Seabridge Gold by 1,867.5% in the third quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock valued at $31,284,000 after acquiring an additional 1,231,002 shares during the period. Clear Street Group Inc. bought a new stake in shares of Seabridge Gold in the fourth quarter valued at approximately $25,891,000. Kopernik Global Investors LLC boosted its position in shares of Seabridge Gold by 5.1% in the first quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock valued at $207,813,000 after acquiring an additional 353,252 shares during the period. Finally, Tidal Investments LLC boosted its position in shares of 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 acquiring an additional 339,913 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.