Seabridge Gold (NYSE:SA) Upgraded at Wall Street Zen

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

Several other equities analysts have also recently issued reports on SA. 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. B. Riley Financial started coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They issued a “buy” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $40.00.

Seabridge Gold Stock Down 3.0%

Shares of NYSE SA opened at $32.51 on Friday. 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 has a 12 month low of $23.69 and a 12 month high of $34.19. The firm has a market capitalization of $3.50 billion, a PE ratio of -67.17 and a beta of 0.89. The firm has a fifty day simple moving average of $27.56 and a two-hundred day simple moving average of $30.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in Seabridge Gold by 5.1% during the second quarter. Public Employees Retirement System of Ohio now owns 23,871 shares of the basic materials company’s stock valued at $616,000 after buying an additional 1,163 shares during the last quarter. Caisse de depot et placement du Quebec purchased a new stake in shares of Seabridge Gold in the second quarter worth $2,266,000. Legal & General Group Plc bought a new position in shares of Seabridge Gold during the second quarter valued at $2,158,000. The Manufacturers Life Insurance Company bought a new position in shares of Seabridge Gold during the second quarter valued at $2,296,000. Finally, Cibc World Market Inc. bought a new position in shares of Seabridge Gold during the second quarter valued at $52,690,000. 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.