Seabridge Gold (NYSE:SA) Share Price Passes Above 200 Day Moving Average – Here’s Why
by Mitch Edgeman · The Markets DailySeabridge Gold, Inc. (NYSE:SA – Get Free Report) (TSE:SEA) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.73 and traded as high as $30.79. Seabridge Gold shares last traded at $30.52, with a volume of 717,647 shares traded.
Analyst Ratings Changes
SA has been the topic of a number of analyst reports. Zacks Research raised Seabridge Gold from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.00.
Check Out Our Latest Research Report on Seabridge Gold
Seabridge Gold Price Performance
The firm has a market capitalization of $3.41 billion, a P/E ratio of -88.31 and a beta of 0.92. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.99 and a current ratio of 5.24. The firm has a 50-day moving average of $31.62 and a 200-day moving average of $28.83.
Seabridge Gold (NYSE:SA – Get Free Report) (TSE:SEA) last released its quarterly earnings data on Thursday, March 26th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.27).
Hedge Funds Weigh In On Seabridge Gold
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in Seabridge Gold by 3,413.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 42,165 shares of the basic materials company’s stock valued at $1,018,000 after acquiring an additional 40,965 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Seabridge Gold by 210.3% during 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 buying an additional 5,543,170 shares during the period. Kopernik Global Investors LLC lifted its holdings in shares of Seabridge Gold by 0.5% during the 2nd quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company’s stock valued at $107,195,000 after buying an additional 39,651 shares during the period. Elevatus Welath Management bought a new position in shares of Seabridge Gold during the 3rd quarter valued at $3,676,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Seabridge Gold by 196.0% during the 3rd quarter. Quantbot Technologies LP now owns 54,171 shares of the basic materials company’s stock valued at $1,308,000 after buying an additional 35,873 shares during the period. 34.85% of the stock is owned by institutional investors.
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.