Seabridge Gold (NYSE:SA) Upgraded at Zacks Research

Zacks Research upgraded shares of Seabridge Gold (NYSE:SA) (TSE:SEA) from a strong sell rating to a hold rating in a research report sent to investors on Thursday,Zacks.com reports.

Several other research analysts have also recently issued reports on the company. B. Riley upped their price objective on Seabridge Gold from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Wall Street Zen downgraded Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $65.00.

Seabridge Gold Trading Up 0.5%

NYSE SA opened at $29.75 on Thursday. Seabridge Gold has a 52 week low of $9.40 and a 52 week high of $31.87. The firm has a 50 day moving average of $26.94 and a two-hundred day moving average of $21.47. The stock has a market capitalization of $3.12 billion, a PE ratio of -78.28 and a beta of 0.82. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.55.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.20).

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Baird Financial Group Inc. acquired a new stake in Seabridge Gold during the 1st quarter valued at $122,000. Royal Bank of Canada lifted its holdings in Seabridge Gold by 125.3% in the 1st quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock worth $541,000 after buying an additional 25,769 shares in the last quarter. Amundi boosted its position in Seabridge Gold by 30.3% in the 1st quarter. Amundi now owns 845,655 shares of the basic materials company’s stock valued at $9,370,000 after buying an additional 196,687 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Seabridge Gold during the first quarter valued at about $344,000. Finally, Jones Financial Companies Lllp increased its position in shares of Seabridge Gold by 912,796.4% during the first quarter. Jones Financial Companies Lllp now owns 502,093 shares of the basic materials company’s stock worth $5,859,000 after acquiring an additional 502,038 shares during the last quarter. 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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.