Seabridge Gold (NYSE:SA) Upgraded by Zacks Research to Hold Rating

Key Points

• Seabridge Gold has been upgraded to a "hold" rating by Zacks Research, reflecting a cautious outlook amid fluctuating market conditions.
• Bank of America and Millennium Management significantly increased their stakes in Seabridge Gold, with Bank of America raising its holdings by 138.6% during the fourth quarter.
• The company's current market cap stands at approximately $1.97 billion, with a noted 52-week price range of $9.40 to $20.55.

Zacks Research upgraded shares of Seabridge Gold (NYSE:SA - Free Report) TSE: SEA to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Separately, Wall Street Zen upgraded Seabridge Gold from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

Seabridge Gold Price Performance

Shares of Seabridge Gold stock traded up $1.79 on Tuesday, hitting $21.94. 2,897,788 shares of the company were exchanged, compared to its average volume of 1,454,927. The stock has a market capitalization of $2.24 billion, a price-to-earnings ratio of -57.74 and a beta of 0.68. The company has a 50-day moving average price of $17.07 and a 200 day moving average price of $14.27. Seabridge Gold has a 1-year low of $9.40 and a 1-year high of $22.05. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.57.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Total Investment Management Inc. acquired a new position in Seabridge Gold in the second quarter valued at approximately $28,000. Geneos Wealth Management Inc. lifted its stake in Seabridge Gold by 2.1% during the second quarter. Geneos Wealth Management Inc. now owns 48,810 shares of the basic materials company's stock worth $709,000 after purchasing an additional 1,000 shares in the last quarter. LMR Partners LLP acquired a new position in Seabridge Gold during the second quarter worth $581,000. HRT Financial LP acquired a new position in Seabridge Gold during the second quarter worth $2,366,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Seabridge Gold by 17.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 51,857 shares of the basic materials company's stock worth $753,000 after purchasing an additional 7,865 shares in the last quarter. 34.85% of the stock is currently owned by institutional investors and hedge funds.

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.