Seabridge Gold (NYSE:SA) Hits New 1-Year High – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares reached a new 52-week high on Tuesday . The stock traded as high as $29.31 and last traded at $29.2260, with a volume of 920737 shares traded. The stock had previously closed at $28.16.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. B. Riley lifted their price target on shares of Seabridge Gold from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Research downgraded Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, November 24th. Wall Street Zen lowered Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Wednesday, November 26th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Seabridge Gold has a consensus rating of “Reduce” and an average price target of $65.00.

Seabridge Gold Price Performance

The firm has a 50-day moving average of $24.37 and a 200-day moving average of $18.72. The stock has a market cap of $3.05 billion, a PE ratio of -76.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 4.24 and a quick ratio of 4.24.

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

Hedge Funds Weigh In On Seabridge Gold

A number of hedge funds and other institutional investors have recently modified their holdings of SA. Banque Cantonale Vaudoise purchased a new position in Seabridge Gold during the first quarter valued at $26,000. Ameritas Advisory Services LLC purchased a new stake in Seabridge Gold in the 2nd quarter worth $26,000. Total Investment Management Inc. bought a new position in shares of Seabridge Gold during the 2nd quarter valued at about $28,000. Caitlin John LLC purchased a new position in shares of Seabridge Gold during the third quarter valued at about $31,000. Finally, Northwest & Ethical Investments L.P. purchased a new position in shares of Seabridge Gold during the first quarter valued at about $39,000. Institutional investors own 34.85% of the company’s stock.

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.