Seabridge Gold (NYSE:SA) Reaches New 1-Year High – Time to Buy?

Shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) reached a new 52-week high during trading on Tuesday . The company traded as high as $31.42 and last traded at $30.3440, with a volume of 866439 shares. The stock had previously closed at $28.04.

Analysts Set New Price Targets

SA has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a report on Friday, March 27th. Finally, Zacks Research lowered shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. One research 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, the company presently has an average rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Stock Up 8.2%

The business’s fifty day moving average is $30.64 and its two-hundred day moving average is $30.99. The company has a market cap of $3.27 billion, a P/E ratio of -62.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). Equities analysts predict that Seabridge Gold, Inc. will post -0.17 EPS for the current year.

Institutional Investors Weigh In On Seabridge Gold

Several large investors have recently modified their holdings of SA. Van ECK Associates Corp raised its holdings in shares of Seabridge Gold by 210.3% in the 3rd quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after purchasing an additional 5,543,170 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 purchasing an additional 1,231,002 shares in the last quarter. Clear Street Group Inc. bought a new stake in shares of Seabridge Gold in the 4th quarter valued at about $25,891,000. Kopernik Global Investors LLC raised its holdings in shares of Seabridge Gold by 5.1% in the 1st quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock valued at $207,813,000 after purchasing an additional 353,252 shares in the last quarter. Finally, Tidal Investments LLC raised its holdings in shares of Seabridge Gold by 12.4% in 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 purchasing an additional 339,913 shares in the last quarter. 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.