NewEdge Advisors LLC Sells 20,210 Shares of Seabridge Gold, Inc. $SA

NewEdge Advisors LLC cut its holdings in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 22.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,077 shares of the basic materials company’s stock after selling 20,210 shares during the period. NewEdge Advisors LLC owned 0.07% of Seabridge Gold worth $1,986,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Axiom Investment Management LLC purchased a new stake in Seabridge Gold during the first quarter worth $309,000. Amundi boosted its position in Seabridge Gold by 3.4% during the 1st quarter. Amundi now owns 526,852 shares of the basic materials company’s stock valued at $14,931,000 after acquiring an additional 17,560 shares in the last quarter. Royal Bank of Canada boosted its position in Seabridge Gold by 18.3% during the 1st quarter. Royal Bank of Canada now owns 313,637 shares of the basic materials company’s stock valued at $8,888,000 after acquiring an additional 48,445 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Seabridge Gold in the 1st quarter valued at $652,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Seabridge Gold in the 1st quarter valued at $8,238,000. 34.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SA. Weiss Ratings upgraded Seabridge Gold from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, August 4th. Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, B. Riley Financial started coverage on Seabridge Gold in a research note on Monday, August 3rd. They issued a “buy” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $40.00.

Seabridge Gold Price Performance

NYSE SA opened at $33.44 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. The stock’s fifty day moving average price is $27.47 and its 200 day moving average price is $30.07. Seabridge Gold, Inc. has a 1 year low of $23.69 and a 1 year high of $34.19. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -69.09 and a beta of 0.89.

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

Seabridge Gold 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. 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.