Seabridge Gold (SA) Trading 14.2% Higher

Shares of Seabridge Gold Inc (NYSE:SA) (TSE:SEA) traded up 14.2% on Monday . The company traded as high as $13.20 and last traded at $12.90. 1,822,100 shares traded hands during mid-day trading, an increase of 474% from the average session volume of 317,389 shares. The stock had previously closed at $11.30.

A number of analysts have weighed in on the company. ValuEngine upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Roth Capital reiterated a “buy” rating on shares of Seabridge Gold in a research note on Friday, July 13th.

The company has a market capitalization of $671.47 million, a price-to-earnings ratio of -92.14 and a beta of -0.11.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its earnings results on Thursday, August 9th. The basic materials company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. sell-side analysts forecast that Seabridge Gold Inc will post -0.27 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Commonwealth Equity Services LLC bought a new position in shares of Seabridge Gold during the 2nd quarter worth $127,000. OLD Mission Capital LLC bought a new position in shares of Seabridge Gold during the 2nd quarter worth $150,000. Royal Bank of Canada grew its position in shares of Seabridge Gold by 87.2% during the 1st quarter. Royal Bank of Canada now owns 13,468 shares of the basic materials company’s stock worth $146,000 after buying an additional 6,275 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Seabridge Gold by 350.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 17,978 shares of the basic materials company’s stock worth $201,000 after buying an additional 13,988 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Seabridge Gold during the 1st quarter worth $233,000. 25.81% of the stock is currently owned by institutional investors and hedge funds.

Seabridge Gold Company Profile (NYSE:SA)

Seabridge Gold Inc, a development stage company, together with its subsidiaries, engages in the acquisition and exploration of gold properties located in North America. The company also explores for copper and silver ores. It holds a 100% interest in various North American gold resource projects. The company's principal assets are the Kerr-Sulphurets-Mitchell and Iskut properties located near Stewart, British Columbia, Canada, as well as the Courageous Lake gold project located in Canada's Northwest Territories.

Further Reading: Fundamental Analysis

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