Seabridge Gold Inc. (SA) Downgraded to “Sell” at Zacks Investment Research
Seabridge Gold Inc. (NYSE:SA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.
According to Zacks, “Seabridge Gold is a global leader in gold and mining listings. “
Seabridge Gold (NYSE:SA) opened at 10.72 on Thursday. The company’s market capitalization is $580.36 million. Seabridge Gold has a 1-year low of $5.46 and a 1-year high of $15.88. The stock’s 50 day moving average is $11.09 and its 200-day moving average is $12.82.
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A number of hedge funds have recently modified their holdings of SA. Van ECK Associates Corp boosted its stake in shares of Seabridge Gold by 23.1% in the second quarter. Van ECK Associates Corp now owns 3,707,254 shares of the company’s stock worth $54,422,000 after buying an additional 694,595 shares in the last quarter. FMR LLC increased its position in shares of Seabridge Gold by 11.8% in the second quarter. FMR LLC now owns 954,307 shares of the company’s stock worth $14,009,000 after buying an additional 101,100 shares during the last quarter. Global X Management Co. LLC increased its position in shares of Seabridge Gold by 22.4% in the second quarter. Global X Management Co. LLC now owns 300,978 shares of the company’s stock worth $4,418,000 after buying an additional 55,132 shares during the last quarter. Weiss Asset Management LP increased its position in shares of Seabridge Gold by 398.8% in the second quarter. Weiss Asset Management LP now owns 300,000 shares of the company’s stock worth $4,403,000 after buying an additional 239,851 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Seabridge Gold by 602.8% in the second quarter. Jane Street Group LLC now owns 286,273 shares of the company’s stock worth $4,203,000 after buying an additional 245,540 shares during the last quarter. Hedge funds and other institutional investors own 24.31% of the company’s stock.
Seabridge Gold Company Profile
Seabridge Gold Inc (Seabridge) is a development-stage company engaged in the acquisition and exploration of gold properties located in North America. The Company is focused on acquiring, exploring and developing gold deposits. The Company owns over five properties with gold resources and its material properties are its Kerr-Sulphurets-Mitchell (KSM) Project and its Courageous Lake Project.
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