Seabridge Gold (NYSE:SA) Shares Gap Down – Here’s Why

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $15.09, but opened at $14.35. Seabridge Gold shares last traded at $14.45, with a volume of 14,354 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Seabridge Gold to a “sell” rating in a research note on Monday, August 19th.

Seabridge Gold Stock Performance

The business’s 50 day simple moving average is $17.02 and its two-hundred day simple moving average is $16.07. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.59.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Tidal Investments LLC bought a new position in Seabridge Gold during the 1st quarter valued at $17,419,000. Toronto Dominion Bank bought a new position in shares of Seabridge Gold during the second quarter valued at about $13,720,000. Ontario Teachers Pension Plan Board boosted its holdings in Seabridge Gold by 20.7% during the third quarter. Ontario Teachers Pension Plan Board now owns 862,077 shares of the basic materials company’s stock worth $14,493,000 after purchasing an additional 148,088 shares during the last quarter. Crawford Fund Management LLC grew its position in Seabridge Gold by 50.6% in the 3rd quarter. Crawford Fund Management LLC now owns 317,089 shares of the basic materials company’s stock worth $5,325,000 after purchasing an additional 106,500 shares in the last quarter. Finally, Knoll Capital Management LLC grew its position in Seabridge Gold by 28.6% in the 3rd quarter. Knoll Capital Management LLC now owns 317,003 shares of the basic materials company’s stock worth $5,322,000 after purchasing an additional 70,406 shares in 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.