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

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA)’s share 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 trading hands.

Analysts Set New Price Targets

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

Seabridge Gold Stock Performance

The firm’s fifty day simple moving average is $17.02 and its 200 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 Investors Weigh In On Seabridge Gold

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ontario Teachers Pension Plan Board lifted its holdings in shares of 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 period. International Assets Investment Management LLC acquired a new stake in shares of Seabridge Gold in the third quarter valued at about $596,000. Toronto Dominion Bank acquired a new position in shares of Seabridge Gold in the second quarter worth approximately $13,720,000. Marshall Wace LLP bought a new stake in Seabridge Gold in the second quarter valued at approximately $311,000. Finally, Van ECK Associates Corp raised its holdings in Seabridge Gold by 1.0% during 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 during 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.