Seabridge Gold (NYSE:SA) Shares Gap Up – Should You Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s share price gapped up prior to trading on Monday . The stock had previously closed at $28.04, but opened at $30.49. Seabridge Gold shares last traded at $31.2710, with a volume of 162,229 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a report on Friday, March 27th. Wall Street Zen upgraded shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, Seabridge Gold presently has an average rating of “Reduce” and an average target price of $65.00.

Seabridge Gold Stock Performance

The company has a market cap of $3.25 billion, a P/E ratio of -62.54 and a beta of 0.89. The firm has a 50 day moving average of $30.64 and a 200-day moving average of $30.96. 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 quarterly earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). As a group, sell-side analysts anticipate that Seabridge Gold, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Investors Weigh In On Seabridge Gold

Several large investors have recently modified their holdings of the business. Van ECK Associates Corp raised its holdings in shares of Seabridge Gold by 210.3% in the 3rd 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 in the last quarter. Kopernik Global Investors LLC boosted its position in shares of Seabridge Gold by 5.1% in 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 in the last quarter. Tidal Investments LLC boosted its position in shares of Seabridge Gold by 12.4% in 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 in the last quarter. Vanguard Group Inc. raised its stake in Seabridge Gold by 82.9% in the fourth quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock valued at $70,305,000 after buying an additional 1,074,577 shares during the last quarter. Finally, Cibc World Market Inc. raised its stake in Seabridge Gold by 2.4% in the fourth quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock valued at $64,712,000 after buying an additional 51,350 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.