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

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) shares gapped down before the market opened on Monday . The stock had previously closed at $16.76, but opened at $16.00. Seabridge Gold shares last traded at $15.90, with a volume of 188,469 shares.

Analyst Ratings Changes

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

Seabridge Gold Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.11 and a current ratio of 2.11. The stock’s 50 day moving average price is $17.33 and its 200 day moving average price is $16.10. The company has a market capitalization of $1.33 billion, a P/E ratio of -210.57 and a beta of 1.13.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its earnings results on Tuesday, August 13th. The basic materials company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SA. Ontario Teachers Pension Plan Board increased its stake in shares of Seabridge Gold by 20.7% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 862,077 shares of the basic materials company’s stock valued at $14,493,000 after acquiring an additional 148,088 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Seabridge Gold by 1.1% in the third quarter. CIBC Asset Management Inc now owns 91,601 shares of the basic materials company’s stock worth $1,541,000 after purchasing an additional 959 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in Seabridge Gold by 8.9% in the third quarter. Nations Financial Group Inc. IA ADV now owns 250,362 shares of the basic materials company’s stock valued at $4,204,000 after purchasing an additional 20,435 shares in the last quarter. Privium Fund Management B.V. raised its holdings in shares of Seabridge Gold by 15.3% during the third quarter. Privium Fund Management B.V. now owns 32,087 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 4,253 shares during the period. Finally, Oxbow Advisors LLC boosted its position in shares of Seabridge Gold by 31.7% during the 3rd quarter. Oxbow Advisors LLC now owns 13,518 shares of the basic materials company’s stock worth $227,000 after purchasing an additional 3,252 shares in the last quarter. 34.85% of the stock is owned by institutional investors and hedge funds.

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.