Seabridge Gold (NYSE:SA) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Seabridge Gold (NYSE:SA) (TSE:SEA) from a hold rating to a strong sell rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $65.00.

Seabridge Gold Price Performance

NYSE:SA opened at $31.39 on Tuesday. Seabridge Gold has a 12-month low of $11.12 and a 12-month high of $40.06. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of -87.20 and a beta of 0.92. The stock’s 50 day moving average price is $31.86 and its two-hundred day moving average price is $29.19. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.53.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its earnings results on Thursday, March 26th. The basic materials company reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.27).

Institutional Investors Weigh In On Seabridge Gold

A number of institutional investors have recently made changes to their positions in SA. Financial Gravity Asset Management Inc. acquired a new position in shares of Seabridge Gold in the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC bought a new stake in Seabridge Gold in the 4th quarter valued at $30,000. Federation des caisses Desjardins du Quebec boosted its stake in Seabridge Gold by 77.5% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 465 shares during the period. Caitlin John LLC acquired a new position in Seabridge Gold in the 3rd quarter valued at $31,000. Finally, Banque Cantonale Vaudoise acquired a new position in Seabridge Gold in the 4th quarter valued at $39,000. 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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.