Seabridge Gold (NYSE:SA) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Seabridge Gold (NYSE:SA) (TSE:SEA) from a strong sell rating to a sell rating in a report issued on Saturday.

A number of other equities analysts also recently commented on SA. Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $65.00.

Seabridge Gold Stock Up 5.1%

Shares of NYSE:SA opened at $31.24 on Friday. The stock has a market cap of $3.36 billion, a P/E ratio of -86.78 and a beta of 0.83. The firm has a fifty day moving average price of $30.86 and a 200 day moving average price of $29.67. The company has a debt-to-equity ratio of 0.53, a current ratio of 5.24 and a quick ratio of 5.24. 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 issued its quarterly 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). Sell-side analysts predict that Seabridge Gold will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Seabridge Gold

Several hedge funds have recently added to or reduced their stakes in SA. Baird Financial Group Inc. purchased a new position in Seabridge Gold during the 1st quarter valued at about $122,000. Royal Bank of Canada boosted its stake in shares of Seabridge Gold by 125.3% during the 1st quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock worth $541,000 after purchasing an additional 25,769 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Seabridge Gold by 9.8% during the 2nd quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company’s stock worth $652,000 after purchasing an additional 3,982 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Seabridge Gold by 11.4% during the 2nd quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock worth $7,868,000 after purchasing an additional 55,262 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in shares of Seabridge Gold by 36.4% during the 2nd quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company’s stock worth $402,000 after purchasing an additional 7,374 shares during the last quarter. 34.85% of the stock is currently owned by hedge funds and other institutional investors.

About Seabridge Gold

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.