Seabridge Gold (NYSE:SA) Hits New 12-Month Low – Should You Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $24.73 and last traded at $25.0950, with a volume of 1981117 shares trading hands. The stock had previously closed at $27.80.

Wall Street Analyst Weigh In

SA has been the subject of several research analyst reports. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Wall Street Zen raised shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Seabridge Gold has a consensus rating of “Reduce” and an average target price of $65.00.

Seabridge Gold Trading Up 4.2%

The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.03 billion, a P/E ratio of -58.11 and a beta of 0.89. The firm’s 50 day simple moving average is $30.64 and its two-hundred day simple moving average is $30.92.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its quarterly earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). As a group, analysts forecast that Seabridge Gold, Inc. will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SA. Baird Financial Group Inc. acquired a new position in shares of Seabridge Gold during the first quarter valued at about $122,000. Royal Bank of Canada grew its holdings in shares of Seabridge Gold by 125.3% during the first quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock valued at $541,000 after buying an additional 25,769 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Seabridge Gold by 9.8% during the second quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company’s stock valued at $652,000 after buying an additional 3,982 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Seabridge Gold by 11.4% during the second quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock valued at $7,868,000 after buying an additional 55,262 shares during the last quarter. Finally, Nebula Research & Development LLC grew its holdings in shares of Seabridge Gold by 36.4% during the second quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company’s stock valued at $402,000 after buying an additional 7,374 shares during the last quarter. 34.85% of the stock is currently owned by institutional investors and hedge funds.

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.