Seabridge Gold (NYSE:SA) Shares Gap Up – Still a Buy?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $28.04, but opened at $30.49. Seabridge Gold shares last traded at $31.2710, with a volume of 162,229 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SA shares. Wall Street Zen upgraded shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research cut Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. 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 company’s stock. According to MarketBeat.com, Seabridge Gold currently has an average rating of “Reduce” and an average price target of $65.00.

Seabridge Gold Trading Up 2.9%

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 firm has a market cap of $3.36 billion, a P/E ratio of -64.54 and a beta of 0.89. The company’s 50 day simple moving average is $30.67 and its 200-day simple moving average is $31.02.

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

Institutional Trading of Seabridge Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Gravity Asset Management Inc. bought a new stake in shares of Seabridge Gold during the fourth quarter worth $30,000. Smartleaf Asset Management LLC bought a new position in shares of Seabridge Gold in the fourth quarter worth about $30,000. Caitlin John LLC purchased a new position in Seabridge Gold in the 3rd quarter worth about $31,000. Federation des caisses Desjardins du Quebec increased its stake in 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 worth $31,000 after buying an additional 465 shares during the period. Finally, Banque Cantonale Vaudoise bought a new stake in Seabridge Gold during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 34.85% of the company’s stock.

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.