StockNews.com assumed coverage on shares of Seabridge Gold (NYSE:SA – Free Report) (TSE:SEA) in a research report sent to investors on Friday. The brokerage issued a sell rating on the basic materials company’s stock.

Seabridge Gold Stock Performance

Seabridge Gold stock opened at $11.29 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 3.11. The stock has a fifty day moving average price of $12.27 and a two-hundred day moving average price of $12.70. Seabridge Gold has a 52-week low of $10.03 and a 52-week high of $16.18. The firm has a market capitalization of $936.51 million, a P/E ratio of -56.45 and a beta of 0.86.

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Hedge Funds Weigh In On Seabridge Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. bought a new position in shares of Seabridge Gold during the 2nd quarter valued at about $299,000. IHT Wealth Management LLC lifted its holdings in shares of Seabridge Gold by 5.5% during the 2nd quarter. IHT Wealth Management LLC now owns 19,100 shares of the basic materials company’s stock valued at $230,000 after purchasing an additional 1,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Seabridge Gold by 13.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 56,325 shares of the basic materials company’s stock valued at $679,000 after purchasing an additional 6,712 shares in the last quarter. Kopernik Global Investors LLC lifted its holdings in shares of Seabridge Gold by 0.5% during the 2nd quarter. Kopernik Global Investors LLC now owns 2,728,409 shares of the basic materials company’s stock valued at $32,877,000 after purchasing an additional 14,593 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in shares of Seabridge Gold during the 2nd quarter valued at about $283,000. Institutional investors own 34.25% 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. Its principal projects are the Kerr-Sulphurets-Mitchell property and Iskut project located in British Columbia, Canada; Courageous Lake property situated in Northwest Territories, Canada; Snowstorm project situated in the Nevada; and 3 Aces project located in the Yukon Territory.

Further Reading

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