Seabridge Gold (NYSE:SA) Stock Price Up 9.6% – Should You Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price rose 9.6% during mid-day trading on Tuesday . The stock traded as high as $29.72 and last traded at $30.4910. Approximately 293,763 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,077,433 shares. The stock had previously closed at $27.83.

Analyst Upgrades and Downgrades

SA has been the subject of several research reports. Wall Street Zen raised Seabridge Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research lowered Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. 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, the stock currently has an average rating of “Reduce” and an average target price of $65.00.

Seabridge Gold Trading Down 9.7%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71. The company has a market cap of $2.70 billion, a P/E ratio of -51.85 and a beta of 0.89. The stock has a 50-day moving average of $30.71 and a two-hundred day moving average of $30.91.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SA. Public Employees Retirement System of Ohio boosted its stake in Seabridge Gold by 1.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 22,708 shares of the basic materials company’s stock valued at $642,000 after purchasing an additional 345 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in Seabridge Gold by 77.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 465 shares during the last quarter. Signaturefd LLC boosted its stake in Seabridge Gold by 20.2% during the 4th quarter. Signaturefd LLC now owns 2,992 shares of the basic materials company’s stock valued at $89,000 after purchasing an additional 502 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in Seabridge Gold by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,064 shares of the basic materials company’s stock valued at $447,000 after purchasing an additional 522 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Seabridge Gold by 2.9% during the 1st quarter. SG Americas Securities LLC now owns 28,926 shares of the basic materials company’s stock valued at $820,000 after purchasing an additional 803 shares during the last quarter. Institutional investors own 34.85% of the company’s stock.

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.