Seabridge Gold (NYSE:SA) Stock Price Down 4.1% – What’s Next?

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) were down 4.1% on Wednesday . The company traded as low as $30.37 and last traded at $30.3890. Approximately 131,189 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 995,384 shares. The stock had previously closed at $31.69.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. Wall Street Zen cut Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a report on Monday. Finally, B. Riley increased their price objective 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 analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $65.00.

Seabridge Gold Price Performance

The firm has a market capitalization of $3.20 billion, a P/E ratio of -80.13 and a beta of 0.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.99 and a current ratio of 2.99. The stock has a 50 day moving average of $26.17 and a two-hundred day moving average of $20.64.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Van ECK Associates Corp increased its stake in Seabridge Gold by 210.3% during the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after acquiring an additional 5,543,170 shares during the period. Vanguard Group Inc. raised its stake in shares of Seabridge Gold by 1,867.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock valued at $31,284,000 after buying an additional 1,231,002 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Seabridge Gold by 912,796.4% in the 1st quarter. Jones Financial Companies Lllp now owns 502,093 shares of the basic materials company’s stock valued at $5,859,000 after buying an additional 502,038 shares in the last quarter. Tidal Investments LLC boosted its position in shares of Seabridge Gold by 12.4% during the 3rd quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock valued at $74,184,000 after acquiring an additional 339,913 shares in the last quarter. Finally, Cibc World Market Inc. lifted its position in shares of Seabridge Gold by 16.5% during the 3rd quarter. Cibc World Market Inc. now owns 2,131,185 shares of the basic materials company’s stock worth $51,396,000 after buying an additional 302,476 shares during the period. 34.85% of the stock is currently owned by institutional investors and hedge funds.

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.