Investors Buy Large Volume of Seabridge Gold Put Options (NYSE:SA)

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) was the target of unusually large options trading on Wednesday. Investors acquired 3,395 put options on the stock. This represents an increase of 42% compared to the average daily volume of 2,384 put options.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Seabridge Gold to a “sell” rating in a research report on Monday, April 1st.

Hedge Funds Weigh In On Seabridge Gold

Large investors have recently bought and sold shares of the company. Van ECK Associates Corp increased its stake in shares of Seabridge Gold by 5.1% in the first quarter. Van ECK Associates Corp now owns 3,680,468 shares of the basic materials company’s stock valued at $55,649,000 after buying an additional 178,672 shares during the period. Privium Fund Management B.V. grew its stake in Seabridge Gold by 9.8% during the first quarter. Privium Fund Management B.V. now owns 38,207 shares of the basic materials company’s stock worth $578,000 after purchasing an additional 3,400 shares during the period. U S Global Investors Inc. acquired a new stake in Seabridge Gold during the first quarter worth approximately $227,000. Simplicity Wealth LLC acquired a new stake in Seabridge Gold during the first quarter worth approximately $2,453,000. Finally, Assenagon Asset Management S.A. grew its stake in Seabridge Gold by 81.0% during the first quarter. Assenagon Asset Management S.A. now owns 112,197 shares of the basic materials company’s stock worth $1,696,000 after purchasing an additional 50,193 shares during the period. 34.85% of the stock is currently owned by institutional investors.

Seabridge Gold Price Performance

Seabridge Gold stock opened at $15.03 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $1.31 billion, a PE ratio of -38.54 and a beta of 1.11. Seabridge Gold has a 12 month low of $9.31 and a 12 month high of $16.71. The stock has a 50-day moving average price of $14.24 and a two-hundred day moving average price of $12.34.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its earnings results on Wednesday, March 27th. The basic materials company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.29). Analysts expect that Seabridge Gold will post 0.1 EPS for the current year.

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.