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

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

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

Seabridge Gold Trading Up 3.9%

Seabridge Gold stock opened at $33.44 on Friday. Seabridge Gold has a 12-month low of $23.69 and a 12-month high of $34.19. The firm has a market capitalization of $3.60 billion, a price-to-earnings ratio of -69.09 and a beta of 0.89. The firm has a 50 day moving average of $27.47 and a 200 day moving average of $30.07. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its quarterly earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). As a group, research analysts predict that Seabridge Gold will post -0.17 earnings per share for the current year.

Institutional Trading of Seabridge Gold

Several institutional investors have recently added to or reduced their stakes in the company. Cibc World Market Inc. bought a new stake in shares of Seabridge Gold during the 2nd quarter worth approximately $52,690,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Seabridge Gold during the second quarter worth $45,048,000. Vanguard Group Inc. boosted its stake in shares of Seabridge Gold by 1,867.5% during the third quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock valued at $31,284,000 after purchasing an additional 1,231,002 shares during the period. Clear Street Group Inc. purchased a new stake in shares of Seabridge Gold during the fourth quarter valued at $25,891,000. Finally, Deutsche Bank AG bought a new position in shares of Seabridge Gold in the second quarter worth about $12,685,000. Institutional investors own 34.85% of the company’s stock.

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.