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

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) gapped up before the market opened on Thursday . The stock had previously closed at $11.68, but opened at $11.94. Seabridge Gold shares last traded at $12.05, with a volume of 78,862 shares changing hands.

Seabridge Gold Trading Up 5.9 %

The company’s fifty day simple moving average is $11.84 and its 200-day simple moving average is $14.05. The company has a market capitalization of $1.24 billion, a P/E ratio of -49.39 and a beta of 1.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.28 and a current ratio of 2.28.

Institutional Trading of Seabridge Gold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its stake in Seabridge Gold by 6.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 14,672 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 850 shares during the last quarter. Nebula Research & Development LLC boosted its position in shares of Seabridge Gold by 6.9% in the 4th quarter. Nebula Research & Development LLC now owns 13,681 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 881 shares during the period. Geneos Wealth Management Inc. grew its position in Seabridge Gold by 2.3% during the 4th quarter. Geneos Wealth Management Inc. now owns 47,770 shares of the basic materials company’s stock worth $545,000 after purchasing an additional 1,067 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of Seabridge Gold by 1.4% in the fourth quarter. NewEdge Advisors LLC now owns 83,622 shares of the basic materials company’s stock valued at $954,000 after purchasing an additional 1,125 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in shares of Seabridge Gold by 3.9% in the third quarter. Quantbot Technologies LP now owns 30,899 shares of the basic materials company’s stock valued at $519,000 after acquiring an additional 1,168 shares in the last quarter. Institutional investors and hedge funds own 34.85% of the company’s stock.

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.