Seabridge Gold (NYSE:SA) Cut to "Sell" at Wall Street Zen

Key Points

• Seabridge Gold has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, signaling potential concerns among investors.
• As of the latest trading session, Seabridge Gold shares are priced at $16.75, with a market capitalization of $1.71 billion.
• Institutional investors hold 34.85% of Seabridge Gold's stock, indicating significant interest from hedge funds in the company.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Seabridge Gold Stock Performance

Shares of Seabridge Gold stock traded down $0.55 during trading hours on Friday, reaching $16.34. The company had a trading volume of 433,852 shares, compared to its average volume of 827,546. The firm has a market cap of $1.67 billion, a PE ratio of -43.00 and a beta of 0.64. Seabridge Gold has a one year low of $9.40 and a one year high of $20.55. The business has a fifty day simple moving average of $15.53 and a 200 day simple moving average of $13.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 9.53 and a quick ratio of 9.53.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last announced its quarterly earnings results on Wednesday, August 13th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter.

Hedge Funds Weigh In On Seabridge Gold

Several institutional investors and hedge funds have recently bought and sold shares of SA. JPMorgan Chase & Co. lifted its stake in shares of Seabridge Gold by 459.3% during the fourth quarter. JPMorgan Chase & Co. now owns 135,269 shares of the basic materials company's stock worth $1,543,000 after buying an additional 111,084 shares during the period. Geode Capital Management LLC raised its position in shares of Seabridge Gold by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 37,649 shares of the basic materials company's stock worth $434,000 after acquiring an additional 1,171 shares during the period. Barclays PLC raised its position in shares of Seabridge Gold by 3.0% in the fourth quarter. Barclays PLC now owns 132,045 shares of the basic materials company's stock worth $1,507,000 after acquiring an additional 3,802 shares during the period. NewEdge Advisors LLC increased its stake in shares of Seabridge Gold by 1.4% during the fourth quarter. NewEdge Advisors LLC now owns 83,622 shares of the basic materials company's stock worth $954,000 after purchasing an additional 1,125 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Seabridge Gold by 97.7% during the fourth quarter. Marshall Wace LLP now owns 182,196 shares of the basic materials company's stock worth $2,079,000 after purchasing an additional 90,057 shares in the last quarter. 34.85% of the stock is owned by hedge funds and other 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.