Seabridge Gold (NYSE:SA) Shares Down 6% – Time to Sell?

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA)’s stock price was down 6% during mid-day trading on Monday . The stock traded as low as $10.87 and last traded at $10.91. 415,155 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 519,693 shares. The stock had previously closed at $11.61.

Seabridge Gold Price Performance

The company has a market cap of $1.04 billion, a PE ratio of -45.52 and a beta of 1.07. The business’s 50 day moving average price is $14.99 and its 200-day moving average price is $15.73. 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 have recently bought and sold shares of the business. Van ECK Associates Corp lifted its position in shares of 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 purchasing an additional 25,461 shares during the last quarter. Tidal Investments LLC increased 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 valued at $46,468,000 after acquiring an additional 573,400 shares during the last quarter. Toronto Dominion Bank raised its position in shares of Seabridge Gold by 0.4% during the 3rd quarter. Toronto Dominion Bank now owns 1,005,928 shares of the basic materials company’s stock valued at $16,890,000 after acquiring an additional 3,734 shares in the last quarter. Raymond James & Associates lifted its stake in Seabridge Gold by 0.4% during the third quarter. Raymond James & Associates now owns 866,186 shares of the basic materials company’s stock worth $14,543,000 after purchasing an additional 3,464 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its holdings in Seabridge Gold by 20.7% in 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. 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.