Seabridge Gold (NYSE:SA) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of Seabridge Gold (NYSE:SA) (TSE:SEA) to a hold rating in a report published on Tuesday,Zacks reports.

Several other brokerages have also recently issued reports on SA. B. Riley Financial began coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They set a “buy” rating and a $40.00 price objective for the company. Weiss Ratings raised Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. Finally, Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Seabridge Gold presently has an average rating of “Hold” and a consensus price target of $40.00.

Seabridge Gold Trading Up 4.0%

NYSE SA opened at $31.11 on Tuesday. The company has a market cap of $3.36 billion and a P/E ratio of -64.28. Seabridge Gold has a 12 month low of $23.69 and a 12 month high of $35.12. 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 company has a 50-day moving average of $28.54 and a 200-day moving average of $30.14.

Institutional Trading of Seabridge Gold

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighTower Advisors LLC raised its holdings in Seabridge Gold by 29.7% in the second quarter. HighTower Advisors LLC now owns 12,107 shares of the basic materials company’s stock valued at $312,000 after acquiring an additional 2,770 shares in the last quarter. BTG Pactual Asset Management US LLC acquired a new position in Seabridge Gold during the 2nd quarter worth $748,000. Susquehanna Advisors Group Inc. bought a new stake in shares of Seabridge Gold in the 2nd quarter worth about $626,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Seabridge Gold by 16.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 43,466 shares of the basic materials company’s stock worth $1,119,000 after purchasing an additional 6,153 shares during the last quarter. Finally, Strait & Sound Wealth Management LLC raised its stake in shares of Seabridge Gold by 1.8% in the 2nd quarter. Strait & Sound Wealth Management LLC now owns 130,327 shares of the basic materials company’s stock valued at $3,355,000 after purchasing an additional 2,283 shares in the last quarter. Institutional investors own 34.85% of the company’s stock.

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.