Seabridge Gold (NYSE:SA) Upgraded to Hold at Wall Street Zen

Key Points

• Wall Street Zen has upgraded Seabridge Gold from a "sell" rating to a "hold" rating, reflecting a positive shift in analyst sentiment.
• Seabridge Gold's stock is currently priced at $18.84, with a notable 52-week range between $9.40 and $20.55.
• Institutional investors now own 34.85% of Seabridge Gold's stock, with several large investors acquiring new stakes during the last few quarters.

Wall Street Zen upgraded shares of Seabridge Gold (NYSE:SA - Free Report) TSE: SEA from a sell rating to a hold rating in a research note released on Saturday morning.

Seabridge Gold Stock Down 0.7%

Shares of SA stock traded down $0.14 during trading hours on Friday, reaching $19.11. 997,714 shares of the company's stock were exchanged, compared to its average volume of 1,094,574. The stock's 50 day moving average is $16.85 and its 200-day moving average is $14.09. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -50.28 and a beta of 0.68. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.57. Seabridge Gold has a fifty-two week low of $9.40 and a fifty-two week high of $20.55.

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

Institutional Investors Weigh In On Seabridge Gold

A number of large investors have recently made changes to their positions in SA. Bank of America Corp DE grew its holdings in shares of Seabridge Gold by 138.6% during the fourth quarter. Bank of America Corp DE now owns 414,500 shares of the basic materials company's stock valued at $4,729,000 after buying an additional 240,756 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Seabridge Gold by 61.6% during the fourth quarter. Deutsche Bank AG now owns 268,785 shares of the basic materials company's stock valued at $3,067,000 after buying an additional 102,459 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Seabridge Gold by 28.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 250,600 shares of the basic materials company's stock valued at $2,859,000 after buying an additional 54,752 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Seabridge Gold by 121.8% during the fourth quarter. Millennium Management LLC now owns 318,803 shares of the basic materials company's stock valued at $3,638,000 after buying an additional 175,078 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Seabridge Gold during the fourth quarter valued at $478,000. 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.