Seabridge Gold (NYSE:SA) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Seabridge Gold to a “Hold” rating. Other analyst views range from “Buy” to “Sell,” resulting in an overall consensus “Hold” rating and a $40.00 price target.
• Seabridge Gold shares opened at $31.11, with a 12-month range of $23.69 to $35.12 and a market capitalization of approximately $3.36 billion.
• Institutional investors own about 34.85% of the company, with several funds recently initiating or increasing positions in Seabridge Gold.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA was upgraded by equities researchers at Zacks Research to a "hold" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

A number of other research firms also recently commented on SA. Weiss Ratings upgraded shares of Seabridge Gold from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 18th. Wall Street Zen raised Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, B. Riley Financial initiated coverage on Seabridge Gold in a report on Monday, August 3rd. They set a "buy" rating and a $40.00 target price on the stock. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $40.00.

Seabridge Gold Price Performance

NYSE SA opened at $31.11 on Tuesday. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. Seabridge Gold has a 12-month low of $23.69 and a 12-month high of $35.12. The company has a market capitalization of $3.36 billion and a PE ratio of -64.28. The firm's 50 day moving average is $28.54 and its 200-day moving average is $30.14.

Institutional Trading of Seabridge Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. bought a new position in shares of Seabridge Gold in the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC bought a new stake in shares of Seabridge Gold in the 4th quarter valued at about $30,000. Federation des caisses Desjardins du Quebec raised its holdings in shares of 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. Banque Cantonale Vaudoise bought a new stake in shares of Seabridge Gold in the 4th quarter valued at about $39,000. Finally, Allworth Financial LP acquired a new stake in Seabridge Gold in the 2nd quarter valued at about $39,000. 34.85% of the stock is owned by institutional investors.

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.

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