Seabridge Gold (NYSE:SA) Rating Lowered to “Strong Sell” at Zacks Research

Seabridge Gold (NYSE:SA) (TSE:SEA) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Seabridge Gold currently has a consensus rating of “Reduce” and an average price target of $65.00.

Seabridge Gold Stock Down 2.0%

Shares of SA stock opened at $31.10 on Tuesday. Seabridge Gold has a 12 month low of $11.12 and a 12 month high of $40.06. The firm has a market cap of $3.35 billion, a PE ratio of -86.38 and a beta of 0.92. The stock has a 50 day moving average of $31.79 and a 200-day moving average of $29.17. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.53.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its quarterly earnings results on Thursday, March 26th. The basic materials company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.27).

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Seabridge Gold in the fourth quarter valued at $30,000. Smartleaf Asset Management LLC acquired a new position in shares of Seabridge Gold in the fourth quarter valued at $30,000. Federation des caisses Desjardins du Quebec raised its stake in shares of 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 valued at $31,000 after purchasing an additional 465 shares in the last quarter. Caitlin John LLC acquired a new position in shares of Seabridge Gold in the third quarter valued at $31,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Seabridge Gold in the fourth quarter valued at $39,000. 34.85% of the stock is currently 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.