Cibc World Market Inc. Raises Stock Holdings in Seabridge Gold, Inc. $SA

Cibc World Market Inc. boosted its holdings in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,182,535 shares of the basic materials company’s stock after purchasing an additional 51,350 shares during the quarter. Cibc World Market Inc.’s holdings in Seabridge Gold were worth $64,712,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in shares of Seabridge Gold by 3,413.8% in the third quarter. PNC Financial Services Group Inc. now owns 42,165 shares of the basic materials company’s stock valued at $1,018,000 after acquiring an additional 40,965 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Seabridge Gold by 210.3% in the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after acquiring an additional 5,543,170 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Seabridge Gold by 196.0% in the third quarter. Quantbot Technologies LP now owns 54,171 shares of the basic materials company’s stock valued at $1,308,000 after acquiring an additional 35,873 shares in the last quarter. Elevatus Welath Management purchased a new position in shares of Seabridge Gold in the third quarter valued at approximately $3,676,000. Finally, Bleakley Financial Group LLC lifted its position in shares of Seabridge Gold by 41.7% in the third quarter. Bleakley Financial Group LLC now owns 122,561 shares of the basic materials company’s stock valued at $2,960,000 after acquiring an additional 36,073 shares in the last quarter. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Seabridge Gold Price Performance

SA stock opened at $34.34 on Thursday. The business has a fifty day moving average of $30.41 and a two-hundred day moving average of $30.75. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of -70.96 and a beta of 0.89. Seabridge Gold, Inc. has a 52-week low of $13.18 and a 52-week high of $40.06.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). As a group, research analysts anticipate that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

SA has been the topic of several research reports. Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research downgraded Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $65.00.

About Seabridge Gold

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. The company was formerly known as Seabridge Resources Inc and changed its name to Seabridge Gold Inc in June 2002. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.