Seabridge Gold (NYSE:SA) Trading Up 3.9% – Here’s What Happened

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) shares shot up 3.9% during mid-day trading on Thursday . The stock traded as high as $11.22 and last traded at $11.29. 111,916 shares were traded during mid-day trading, a decline of 81% from the average session volume of 577,920 shares. The stock had previously closed at $10.86.

Seabridge Gold Price Performance

The stock has a market capitalization of $1.12 billion, a P/E ratio of -45.58 and a beta of 1.11. The business has a fifty day simple moving average of $11.88 and a 200-day simple moving average of $14.68. 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 Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its position in shares of Seabridge Gold by 316.2% during the fourth quarter. Mackenzie Financial Corp now owns 46,343 shares of the basic materials company’s stock worth $528,000 after purchasing an additional 35,209 shares during the period. Strait & Sound Wealth Management LLC raised its holdings in Seabridge Gold by 12.6% during the fourth quarter. Strait & Sound Wealth Management LLC now owns 127,059 shares of the basic materials company’s stock worth $1,450,000 after buying an additional 14,206 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Seabridge Gold by 2.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,450 shares of the basic materials company’s stock valued at $861,000 after buying an additional 1,490 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Seabridge Gold during the fourth quarter valued at about $273,000. Finally, Two Sigma Investments LP bought a new stake in shares of Seabridge Gold during the fourth quarter worth about $276,000. Institutional investors 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.