Seabridge Gold (NYSE:SA) Stock Rating Upgraded by Wall Street Zen

Seabridge Gold (NYSE:SA) (TSE:SEA) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts have also recently weighed in on SA. Weiss Ratings upgraded shares of Seabridge Gold from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, August 4th. B. Riley Financial assumed coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They set a “buy” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Seabridge Gold presently has an average rating of “Reduce” and an average target price of $40.00.

Seabridge Gold Stock Down 0.2%

Shares of NYSE:SA opened at $33.44 on Friday. The firm has a market capitalization of $3.60 billion, a PE ratio of -69.09 and a beta of 0.89. Seabridge Gold has a 1 year low of $23.69 and a 1 year high of $34.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. The firm’s 50-day moving average is $27.47 and its two-hundred day moving average is $30.04.

Hedge Funds Weigh In On Seabridge Gold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. purchased a new stake in shares of Seabridge Gold during the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC acquired a new stake in Seabridge Gold in the fourth quarter valued at approximately $30,000. Federation des caisses Desjardins du Quebec lifted its stake in Seabridge Gold by 77.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 465 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in Seabridge Gold in the fourth quarter worth approximately $39,000. Finally, Allworth Financial LP purchased a new position in Seabridge Gold in the second quarter worth approximately $39,000. 34.85% of the stock is owned by institutional investors and hedge funds.

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.