Seabridge Gold (NYSE:SA) Stock Price Down 4.8% – Should You Sell?

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) shares traded down 4.8% on Wednesday . The company traded as low as $19.50 and last traded at $19.54. 289,393 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 497,452 shares. The stock had previously closed at $20.53.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Seabridge Gold to a “sell” rating in a report on Monday, August 19th.

Seabridge Gold Stock Performance

The stock’s 50 day moving average price is $17.49 and its 200 day moving average price is $15.93. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.66 billion, a PE ratio of -52.22 and a beta of 1.14.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.34.

Institutional Investors Weigh In On Seabridge Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SA. Russell Investments Group Ltd. raised its position in shares of Seabridge Gold by 0.9% during the 1st quarter. Russell Investments Group Ltd. now owns 897,435 shares of the basic materials company’s stock worth $13,579,000 after buying an additional 8,440 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in shares of Seabridge Gold during the 1st quarter worth about $712,000. Marshall Wace LLP bought a new stake in shares of Seabridge Gold during the 2nd quarter worth about $311,000. Toronto Dominion Bank bought a new stake in shares of Seabridge Gold during the 2nd quarter worth about $13,720,000. Finally, Van ECK Associates Corp raised its holdings in shares of Seabridge Gold by 1.0% in the 2nd quarter. Van ECK Associates Corp now owns 3,717,871 shares of the basic materials company’s stock worth $50,898,000 after purchasing an additional 37,403 shares in the last quarter. Hedge funds and other 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.