Zacks Investment Research lowered shares of Seabridge Gold Inc. (NYSE:SA) from a hold rating to a sell rating in a research note released on Thursday.

According to Zacks, “Seabridge Gold is a global leader in gold and mining listings. “

Seabridge Gold (NYSE:SA) traded up 0.19% during midday trading on Thursday, reaching $10.66. The company had a trading volume of 194,137 shares. The firm’s market capitalization is $577.11 million. Seabridge Gold has a 12-month low of $5.46 and a 12-month high of $15.88. The stock’s 50 day moving average is $11.09 and its 200 day moving average is $12.81.

Several large investors have recently added to or reduced their stakes in SA. Van ECK Associates Corp increased its stake in Seabridge Gold by 23.1% in the second quarter. Van ECK Associates Corp now owns 3,707,254 shares of the company’s stock valued at $54,422,000 after buying an additional 694,595 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Seabridge Gold during the second quarter valued at about $3,760,000. Jane Street Group LLC boosted 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 valued at $4,203,000 after buying an additional 245,540 shares during the last quarter. Weiss Asset Management LP boosted 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 valued at $4,403,000 after buying an additional 239,851 shares during the last quarter. Finally, Sprott Inc. bought a new position in shares of Seabridge Gold during the second quarter valued at about $3,462,000. Hedge funds and other institutional investors own 24.31% of the company’s stock.

About Seabridge Gold

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.

5 Day Chart for NYSE:SA

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