Seabridge Gold (NYSE:SA) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded Seabridge Gold from "hold" to "Strong Sell", Weiss Ratings reissued a "sell (d-)," and MarketBeat shows a consensus rating of "Reduce" with a $65.00 price target.
• The company reported quarterly EPS of ($0.30), missing estimates of ($0.03) by $0.27, and the stock trades with a negative PE (-86.38), opening at $31.10 within a 12‑month range of $11.12–$40.06.
• Institutional investors own about 34.85% of the shares, with recent notable stake increases from Royal Bank of Canada, Marshall Wace and others despite the analyst downgrades.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Seabridge Gold in a 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 stock. According to MarketBeat, Seabridge Gold has a consensus rating of "Reduce" and a consensus price target of $65.00.

Seabridge Gold Price Performance

Shares of Seabridge Gold stock opened at $31.10 on Tuesday. The firm has a market cap of $3.35 billion, a PE ratio of -86.38 and a beta of 0.92. Seabridge Gold has a 12-month low of $11.12 and a 12-month high of $40.06. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.53. The company's fifty day simple moving average is $31.79 and its two-hundred day simple moving average is $29.17.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last announced its quarterly earnings results on Thursday, March 26th. The basic materials company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.27).

Institutional Investors Weigh In On Seabridge Gold

A number of large investors have recently modified their holdings of SA. Baird Financial Group Inc. bought a new stake in shares of Seabridge Gold during the 1st quarter valued at about $122,000. Royal Bank of Canada boosted its stake in shares of Seabridge Gold by 125.3% during the 1st quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company's stock valued at $541,000 after purchasing an additional 25,769 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Seabridge Gold by 9.8% during the 2nd quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company's stock valued at $652,000 after purchasing an additional 3,982 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Seabridge Gold by 11.4% during the 2nd quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company's stock valued at $7,868,000 after purchasing an additional 55,262 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its stake in shares of Seabridge Gold by 36.4% during the 2nd quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company's stock valued at $402,000 after purchasing an additional 7,374 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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.

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