Seabridge Gold (NYSE:SA) Stock Price Up 3.9% – Here’s Why

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) rose 3.9% during trading on Thursday . The company traded as high as $11.22 and last traded at $11.29. Approximately 111,916 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 577,920 shares. The stock had previously closed at $10.86.

Seabridge Gold Trading Up 4.7 %

The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $1.12 billion, a P/E ratio of -45.58 and a beta of 1.11. The firm has a 50 day simple moving average of $11.88 and a two-hundred day simple moving average of $14.68.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in shares of Seabridge Gold by 26.1% during the 3rd quarter. Tidal Investments LLC now owns 2,767,574 shares of the basic materials company’s stock worth $46,468,000 after buying an additional 573,400 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Seabridge Gold during the fourth quarter worth $12,676,000. Toronto Dominion Bank lifted 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 acquiring an additional 3,734 shares during the period. Ontario Teachers Pension Plan Board boosted its position in Seabridge Gold by 14.2% in 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 during the last quarter. Finally, Amundi grew its stake in Seabridge Gold by 15.3% in the 4th quarter. Amundi now owns 648,968 shares of the basic materials company’s stock valued at $7,736,000 after purchasing an additional 86,046 shares during the period. 34.85% of the stock is currently owned by hedge funds and other 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.