Seabridge Gold (NYSE:SA) Share Price Passes Above 200-Day Moving Average – What’s Next?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $20.19 and traded as high as $30.00. Seabridge Gold shares last traded at $28.44, with a volume of 1,345,807 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on SA. Wall Street Zen downgraded shares of Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research note on Monday. Finally, B. Riley raised their target price on shares of Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Price Performance

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 cap of $2.98 billion, a PE ratio of -74.84 and a beta of 0.85. The stock has a 50 day moving average price of $25.87 and a two-hundred day moving average price of $20.19.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.20).

Institutional Investors Weigh In On Seabridge Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its stake in Seabridge Gold by 2.1% during the 2nd quarter. Geneos Wealth Management Inc. now owns 48,810 shares of the basic materials company’s stock worth $709,000 after buying an additional 1,000 shares in the last quarter. Creative Planning boosted its stake in shares of Seabridge Gold by 3.8% in the third quarter. Creative Planning now owns 28,462 shares of the basic materials company’s stock worth $687,000 after acquiring an additional 1,043 shares during the last quarter. CWM LLC boosted its stake in shares of Seabridge Gold by 4.1% in the third quarter. CWM LLC now owns 26,651 shares of the basic materials company’s stock worth $644,000 after acquiring an additional 1,060 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Seabridge Gold by 41.7% during the third quarter. Creative Financial Designs Inc. ADV now owns 4,250 shares of the basic materials company’s stock worth $103,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Caitlin John LLC acquired a new position in Seabridge Gold in the 3rd quarter valued at $31,000. 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.