Zacks Research Upgrades Seabridge Gold (NYSE:SA) to “Hold”

Seabridge Gold (NYSE:SA) (TSE:SEA) was upgraded by research analysts at Zacks Research to a “hold” rating in a report released on Tuesday, Zacks reports.

A number of other brokerages have also weighed in on SA. Weiss Ratings raised shares of Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 18th. Wall Street Zen raised Seabridge Gold from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Finally, B. Riley Financial assumed coverage on Seabridge Gold in a research report on Monday, August 3rd. They issued a “buy” rating and a $40.00 price objective on the stock. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.00.

Seabridge Gold Trading Up 4.0%

SA opened at $31.11 on Tuesday. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.36 billion and a PE ratio of -64.28. Seabridge Gold has a 1-year low of $23.69 and a 1-year high of $35.12. The firm has a 50-day moving average price of $28.54 and a two-hundred day moving average price of $30.14.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Financial Gravity Asset Management Inc. bought a new stake in shares of Seabridge Gold during the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC bought a new position in Seabridge Gold in the fourth quarter valued at approximately $30,000. Federation des caisses Desjardins du Quebec boosted its stake in Seabridge Gold by 77.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 465 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Seabridge Gold in the fourth quarter valued at approximately $39,000. Finally, Allworth Financial LP acquired a new stake in Seabridge Gold during the 2nd quarter worth $39,000. 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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.