Seabridge Gold (NYSE:SA) Reaches New 1-Year High – Time to Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $31.42 and last traded at $30.3440, with a volume of 866439 shares trading hands. The stock had previously closed at $28.04.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a report 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $65.00.

Seabridge Gold Stock Up 8.2%

The firm has a market capitalization of $3.27 billion, a PE ratio of -62.69 and a beta of 0.89. The business’s 50 day simple moving average is $30.64 and its 200 day simple moving average is $30.99. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued 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 research analysts forecast that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Seabridge Gold

A number of large investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Seabridge Gold by 210.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock worth $197,514,000 after purchasing an additional 5,543,170 shares during the period. Kopernik Global Investors LLC boosted its stake in shares of Seabridge Gold by 5.1% during the 1st quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock worth $207,813,000 after purchasing an additional 353,252 shares during the period. Tidal Investments LLC boosted its stake in shares of Seabridge Gold by 12.4% during the 3rd quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock worth $74,184,000 after purchasing an additional 339,913 shares during the period. Vanguard Group Inc. boosted its stake in shares of Seabridge Gold by 82.9% during the 4th quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock worth $70,305,000 after purchasing an additional 1,074,577 shares during the period. Finally, Cibc World Market Inc. boosted its stake in shares of Seabridge Gold by 2.4% during the 4th quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock worth $64,712,000 after purchasing an additional 51,350 shares during the period. 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.