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

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) hit a new 52-week high 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

SA has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research note on Monday, December 29th. B. Riley Financial lifted their target price on Seabridge Gold from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Wall Street Zen downgraded Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Zacks Research upgraded Seabridge Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Seabridge Gold has an average rating of “Hold” and a consensus price target of $65.00.

Seabridge Gold Stock Up 2.4%

The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of -101.71 and a beta of 0.81. The stock has a 50 day moving average of $32.25 and a 200 day moving average of $26.12.

Institutional Investors Weigh In On Seabridge Gold

Several institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. acquired a new position in Seabridge Gold in the fourth quarter worth $30,000. Smartleaf Asset Management LLC bought a new position in shares of Seabridge Gold in the 4th quarter worth about $30,000. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Seabridge Gold by 77.5% in 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 buying an additional 465 shares during the period. Caitlin John LLC bought a new stake in shares of Seabridge Gold during the 3rd quarter valued at about $31,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Seabridge Gold during the 4th quarter valued at about $39,000. 34.85% of the stock is 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.