Seabridge Gold (NYSE:SA) Trading Down 8.4% – Time to Sell?

Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA)’s stock price was down 8.4% during mid-day trading on Friday . The company traded as low as $30.51 and last traded at $30.73. Approximately 152,403 shares traded hands during trading, a decline of 88% from the average daily volume of 1,319,526 shares. The stock had previously closed at $33.54.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. B. Riley upped their target price on Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Zacks Research raised Seabridge Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Seabridge Gold currently has a consensus rating of “Hold” and an average target price of $65.00.

Seabridge Gold Price Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.99 and a current ratio of 2.99. The company has a market cap of $3.01 billion, a price-to-earnings ratio of -74.45 and a beta of 0.82. The business has a fifty day moving average price of $30.47 and a 200 day moving average price of $23.91.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings data on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.20).

Institutional Trading of Seabridge Gold

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA increased its holdings in shares of Seabridge Gold by 3.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 15,064 shares of the basic materials company’s stock worth $447,000 after buying an additional 522 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Seabridge Gold during the 4th quarter worth $560,000. Vanguard Group Inc. increased its holdings in Seabridge Gold by 82.9% in the 4th quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock worth $70,305,000 after purchasing an additional 1,074,577 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Seabridge Gold by 32.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,245 shares of the basic materials company’s stock valued at $898,000 after purchasing an additional 7,374 shares during the last quarter. Finally, CWM LLC raised its position in Seabridge Gold by 4.4% in the fourth quarter. CWM LLC now owns 27,826 shares of the basic materials company’s stock valued at $823,000 after purchasing an additional 1,175 shares during the last quarter. Institutional investors own 34.85% of the company’s stock.

Seabridge Gold Company Profile

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.