Seabridge Gold (NYSE:SA) Shares Gap Up – Here’s Why

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) gapped up prior to trading 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 Up 5.9 %

The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 2.28. The firm’s 50-day moving average price is $11.84 and its 200 day moving average price is $14.05. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -49.39 and a beta of 1.00.

Hedge Funds Weigh In On Seabridge Gold

A number of hedge funds have recently made changes to their positions in SA. R Squared Ltd acquired a new position in shares of Seabridge Gold in the 4th quarter valued at about $28,000. Lee Danner & Bass Inc. purchased a new position in shares of Seabridge Gold during the 4th quarter valued at approximately $70,000. HighTower Advisors LLC acquired a new stake in shares of Seabridge Gold in the 4th quarter valued at about $118,000. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of Seabridge Gold in the 4th quarter worth approximately $138,000. Finally, Uniting Wealth Partners LLC bought a new stake in Seabridge Gold during the fourth quarter valued at $139,000. 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.