Seabridge Gold (NYSE:SA) Shares Gap Down – What’s Next?

Shares of Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) gapped down before the market opened on Friday . The stock had previously closed at $13.33, but opened at $12.20. Seabridge Gold shares last traded at $11.94, with a volume of 588,236 shares.

Seabridge Gold Price Performance

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 2.28. The company has a 50-day simple moving average of $12.27 and a 200-day simple moving average of $15.12. The stock has a market cap of $1.04 billion, a PE ratio of -45.18 and a beta of 1.11.

Hedge Funds Weigh In On Seabridge Gold

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its position in Seabridge Gold by 0.7% during the third quarter. Van ECK Associates Corp now owns 3,743,332 shares of the basic materials company’s stock worth $62,851,000 after buying an additional 25,461 shares during the period. Tidal Investments LLC grew its holdings in shares of Seabridge Gold by 26.1% in the 3rd quarter. Tidal Investments LLC now owns 2,767,574 shares of the basic materials company’s stock worth $46,468,000 after acquiring an additional 573,400 shares during the period. Raymond James Financial Inc. purchased a new position in Seabridge Gold in the 4th quarter valued at approximately $12,676,000. Toronto Dominion Bank raised its holdings in Seabridge Gold by 0.4% during the third quarter. Toronto Dominion Bank now owns 1,005,928 shares of the basic materials company’s stock worth $16,890,000 after purchasing an additional 3,734 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its position in Seabridge Gold by 14.2% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 984,704 shares of the basic materials company’s stock worth $11,220,000 after purchasing an additional 122,627 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.