ValuEngine Upgrades Seabridge Gold (SA) to Hold

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ValuEngine upgraded shares of Seabridge Gold (NYSE:SA) (TSE:SEA) from a sell rating to a hold rating in a research note released on Monday, September 17th.

Separately, Roth Capital reiterated a buy rating on shares of Seabridge Gold in a research note on Friday, July 13th.

Shares of NYSE:SA traded up $0.47 during midday trading on Monday, reaching $14.50. The company’s stock had a trading volume of 1,112,961 shares, compared to its average volume of 336,651. The firm has a market capitalization of $769.52 million and a P/E ratio of -103.57. Seabridge Gold has a twelve month low of $9.80 and a twelve month high of $14.57.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings data on Thursday, August 9th. The basic materials company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.02. Equities research analysts forecast that Seabridge Gold will post -0.27 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Seabridge Gold by 2.9% during the first quarter. BlackRock Inc. now owns 197,887 shares of the basic materials company’s stock valued at $2,137,000 after buying an additional 5,509 shares during the period. FMR LLC grew its position in Seabridge Gold by 0.7% during the second quarter. FMR LLC now owns 1,515,539 shares of the basic materials company’s stock valued at $16,822,000 after buying an additional 9,800 shares during the period. Baird Financial Group Inc. grew its position in Seabridge Gold by 14.8% during the second quarter. Baird Financial Group Inc. now owns 136,903 shares of the basic materials company’s stock valued at $1,526,000 after buying an additional 17,612 shares during the period. Royal Bank of Canada grew its position in Seabridge Gold by 87.2% during the first quarter. Royal Bank of Canada now owns 13,468 shares of the basic materials company’s stock valued at $146,000 after buying an additional 6,275 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new stake in Seabridge Gold during the second quarter valued at $127,000. Institutional investors own 25.81% of the company’s stock.

Seabridge Gold Company Profile

Seabridge Gold Inc, a development stage company, together with its subsidiaries, engages in the acquisition and exploration of gold properties located in North America. The company also explores for copper and silver ores. It holds a 100% interest in various North American gold resource projects. The company's principal assets are the Kerr-Sulphurets-Mitchell and Iskut properties located near Stewart, British Columbia, Canada, as well as the Courageous Lake gold project located in Canada's Northwest Territories.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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