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

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) reached a new 52-week high on Monday . The company traded as high as $37.99 and last traded at $36.6470, with a volume of 268193 shares trading hands. The stock had previously closed at $36.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Seabridge Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Wall Street Zen lowered shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. Finally, B. Riley upped their target price on Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $65.00.

Seabridge Gold Price Performance

The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 2.99. The company has a market capitalization of $3.82 billion, a PE ratio of -94.31 and a beta of 0.82. The stock’s 50 day simple moving average is $29.59 and its 200-day simple moving average is $23.36.

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

Hedge Funds Weigh In On Seabridge Gold

Hedge funds have recently modified their holdings of the business. Baird Financial Group Inc. acquired a new stake in Seabridge Gold during the 1st quarter worth $122,000. Royal Bank of Canada grew its holdings in shares of Seabridge Gold by 125.3% during the first quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock worth $541,000 after buying an additional 25,769 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Seabridge Gold by 10.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 28,870 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 2,685 shares during the period. U.S. Capital Wealth Advisors LLC purchased a new stake in Seabridge Gold during the 2nd quarter valued at approximately $160,000. Finally, Ameritas Advisory Services LLC purchased a new stake in Seabridge Gold during the 2nd quarter valued at approximately $26,000. 34.85% of the stock is currently owned by hedge funds and other institutional investors.

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.