Seabridge Gold (NYSE:SA) (TSE:SEA) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Tuesday.

Shares of Seabridge Gold (SA) opened at $11.90 on Tuesday. The firm has a market cap of $597.66, a PE ratio of -132.22 and a beta of -0.20. Seabridge Gold has a 52 week low of $9.22 and a 52 week high of $13.70.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Paulson & CO. Inc. bought a new stake in Seabridge Gold in the second quarter valued at about $7,560,000. Royal Bank of Canada increased its stake in Seabridge Gold by 36.4% in the second quarter. Royal Bank of Canada now owns 34,146 shares of the basic materials company’s stock valued at $368,000 after acquiring an additional 9,121 shares during the period. Alps Advisors Inc. increased its stake in Seabridge Gold by 49.7% in the third quarter. Alps Advisors Inc. now owns 308,777 shares of the basic materials company’s stock valued at $3,767,000 after acquiring an additional 102,553 shares during the period. Jane Street Group LLC increased its stake in Seabridge Gold by 46.3% in the third quarter. Jane Street Group LLC now owns 145,410 shares of the basic materials company’s stock valued at $1,774,000 after acquiring an additional 45,986 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Seabridge Gold by 39.8% in the third quarter. Russell Investments Group Ltd. now owns 1,590,531 shares of the basic materials company’s stock valued at $19,410,000 after acquiring an additional 453,028 shares during the period. 28.05% of the stock is currently owned by institutional investors and hedge funds.

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Seabridge Gold Company Profile

Seabridge Gold Inc (Seabridge) is a development-stage company. The Company is engaged in the acquisition and exploration of gold properties located in North America. As of December 31, 2016, the Company owned six properties with gold resources. Its material properties are its Kerr-Sulphurets-Mitchell (KSM) Project and its Courageous Lake Project.

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

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