Seabridge Gold (NYSE:SA) Sets New 52-Week High – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $38.34 and last traded at $37.9280, with a volume of 76888 shares trading hands. The stock had previously closed at $37.40.

Analyst Ratings Changes

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

Seabridge Gold Stock Performance

The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.55. The stock’s 50-day moving average price is $31.88 and its 200-day moving average price is $25.95. The company has a market capitalization of $4.09 billion, a P/E ratio of -100.55 and a beta of 0.81.

Hedge Funds Weigh In On Seabridge Gold

Several institutional investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Seabridge Gold during the second quarter valued at $404,000. Ontario Teachers Pension Plan Board grew its position in Seabridge Gold by 10.8% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 1,490,415 shares of the basic materials company’s stock worth $21,652,000 after purchasing an additional 145,528 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Seabridge Gold in the second quarter valued at approximately $1,158,000. Kopernik Global Investors LLC raised its holdings in shares of Seabridge Gold by 0.5% during the second quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company’s stock valued at $107,195,000 after buying an additional 39,651 shares during the last quarter. Finally, Bessemer Group Inc. bought a new position in Seabridge Gold in the 2nd quarter worth approximately $290,000. 34.85% of the stock is owned by 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.