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

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) shares 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 trading hands.

Seabridge Gold Stock Down 3.8 %

The company has a market capitalization of $1.18 billion, a PE ratio of -47.21 and a beta of 1.00. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $11.84 and its two-hundred day moving average is $14.01.

Hedge Funds Weigh In On Seabridge Gold

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tidal Investments LLC raised its position in Seabridge Gold by 26.1% during the third quarter. Tidal Investments LLC now owns 2,767,574 shares of the basic materials company’s stock valued at $46,468,000 after purchasing an additional 573,400 shares during the period. Raymond James Financial Inc. bought a new stake in Seabridge Gold in the fourth quarter worth $12,676,000. Toronto Dominion Bank increased its position 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 valued at $16,890,000 after acquiring an additional 3,734 shares during the last quarter. Ontario Teachers Pension Plan Board increased its position in Seabridge Gold by 14.2% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 984,704 shares of the basic materials company’s stock valued at $11,220,000 after acquiring an additional 122,627 shares during the last quarter. Finally, Amundi raised its stake in shares of Seabridge Gold by 15.3% in the fourth quarter. Amundi now owns 648,968 shares of the basic materials company’s stock valued at $7,736,000 after acquiring an additional 86,046 shares during the period. 34.85% of the stock is 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.