Seabridge Gold Inc. (SA) Stock Rating Lowered by Zacks Investment Research
Seabridge Gold Inc. (NYSE:SA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.
According to Zacks, “Seabridge Gold is a global leader in gold and mining listings. “
Shares of Seabridge Gold (NYSE:SA) opened at 10.61 on Thursday. The company’s 50 day moving average is $11.07 and its 200 day moving average is $12.81. Seabridge Gold has a 12-month low of $5.46 and a 12-month high of $15.88. The firm’s market capitalization is $574.40 million.
A number of hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Seabridge Gold by 23.1% in the second quarter. Van ECK Associates Corp now owns 3,707,254 shares of the company’s stock valued at $54,422,000 after buying an additional 694,595 shares in the last quarter. Bank of Montreal Can bought a new stake in shares of Seabridge Gold during the second quarter worth approximately $3,760,000. Jane Street Group LLC boosted its stake in shares of Seabridge Gold by 602.8% in the second quarter. Jane Street Group LLC now owns 286,273 shares of the company’s stock worth $4,203,000 after buying an additional 245,540 shares during the period. Weiss Asset Management LP boosted its stake in shares of Seabridge Gold by 398.8% in the second quarter. Weiss Asset Management LP now owns 300,000 shares of the company’s stock worth $4,403,000 after buying an additional 239,851 shares during the period. Finally, Sprott Inc. bought a new stake in shares of Seabridge Gold during the second quarter worth approximately $3,462,000. 24.37% of the stock is owned by hedge funds and other institutional investors.
Seabridge Gold Company Profile
Seabridge Gold Inc (Seabridge) is a development-stage company engaged in the acquisition and exploration of gold properties located in North America. The Company is focused on acquiring, exploring and developing gold deposits. The Company owns over five properties with gold resources and its material properties are its Kerr-Sulphurets-Mitchell (KSM) Project and its Courageous Lake Project.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Seabridge Gold Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seabridge Gold Inc. and related companies with MarketBeat.com's FREE daily email newsletter.