Zacks Investment Research Lowers Seabridge Gold (SA) to Hold
Seabridge Gold (NYSE:SA) (TSE:SEA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Seabridge Gold is a global leader in gold and mining listings. “
Separately, ValuEngine upgraded Seabridge Gold from a “hold” rating to a “buy” rating in a research report on Friday, January 4th.
Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in shares of Seabridge Gold by 1,113.8% during the 4th quarter. Northern Trust Corp now owns 315,536 shares of the basic materials company’s stock worth $4,175,000 after buying an additional 289,541 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Seabridge Gold by 26.2% during the 3rd quarter. Toronto Dominion Bank now owns 888,900 shares of the basic materials company’s stock worth $11,498,000 after buying an additional 184,557 shares during the last quarter. Morgan Stanley lifted its position in shares of Seabridge Gold by 95.0% during the 3rd quarter. Morgan Stanley now owns 375,694 shares of the basic materials company’s stock worth $4,865,000 after buying an additional 183,050 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of Seabridge Gold during the 3rd quarter worth $1,550,000. Finally, Millennium Management LLC lifted its position in shares of Seabridge Gold by 119.0% during the 4th quarter. Millennium Management LLC now owns 143,023 shares of the basic materials company’s stock worth $1,892,000 after buying an additional 77,723 shares during the last quarter. Hedge funds and other institutional investors own 25.35% of the company’s stock.
Seabridge Gold Company Profile
Seabridge Gold Inc, a development stage company, together with its subsidiaries, engages in the acquisition and exploration of gold properties located in North America. The company also explores for copper and silver ores. It holds a 100% interest in various North American gold resource projects. The company's principal assets are the Kerr-Sulphurets-Mitchell and Iskut properties located near Stewart, British Columbia, Canada, as well as the Courageous Lake gold project located in Canada's Northwest Territories.
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