Seabridge Gold (NYSE:SA) Shares Down 6% - Here's Why

Shares of Seabridge Gold Inc. (NYSE:SA - Get Free Report) TSE: SEA fell 6% on Monday . The stock traded as low as $10.87 and last traded at $10.91. 415,155 shares traded 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 Stock Down 2.9 %

The stock has a 50-day moving average price of $14.83 and a 200-day moving average price of $15.71. 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 company has a market capitalization of $1.03 billion, a P/E ratio of -45.08 and a beta of 1.07.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Synovus Financial Corp acquired a new stake in shares of Seabridge Gold during the third quarter worth $218,000. Tidal Investments LLC boosted 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 acquiring an additional 573,400 shares during the last quarter. Toronto Dominion Bank grew its holdings in 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 worth $16,890,000 after acquiring an additional 3,734 shares during the period. Strait & Sound Wealth Management LLC raised its position in shares of Seabridge Gold by 1.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 112,853 shares of the basic materials company's stock worth $1,895,000 after acquiring an additional 1,999 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Seabridge Gold by 11.6% in the 3rd quarter. Geode Capital Management LLC now owns 36,478 shares of the basic materials company's stock worth $615,000 after acquiring an additional 3,794 shares in the last quarter. Institutional investors own 34.85% of the company's stock.

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.