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

Seabridge Gold (NYSE:SA) (TSE:SEA) was downgraded by 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 research report on Friday, March 27th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $65.00.

Seabridge Gold Trading Down 2.0%

Shares of SA opened at $31.10 on Tuesday. The firm’s 50-day moving average price is $31.79 and its 200-day moving average price is $29.17. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -86.38 and a beta of 0.92. The company has a current ratio of 5.24, a quick ratio of 5.24 and a debt-to-equity ratio of 0.53. Seabridge Gold has a 1-year low of $11.12 and a 1-year high of $40.06.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SA. Baird Financial Group Inc. purchased a new position in Seabridge Gold in the first quarter worth about $122,000. Royal Bank of Canada raised its holdings in Seabridge Gold by 125.3% in the first quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock worth $541,000 after buying an additional 25,769 shares during the last quarter. Geode Capital Management LLC raised its holdings in Seabridge Gold by 9.8% in the second quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company’s stock worth $652,000 after buying an additional 3,982 shares during the last quarter. Marshall Wace LLP raised its holdings in Seabridge Gold by 11.4% in the second quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock worth $7,868,000 after buying an additional 55,262 shares during the last quarter. Finally, Nebula Research & Development LLC raised its holdings in Seabridge Gold by 36.4% in the second quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company’s stock worth $402,000 after buying an additional 7,374 shares during 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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.