37,500 Shares of Seabridge Gold, Inc. $SA Acquired by Global Strategic Management Inc.

Global Strategic Management Inc. purchased a new position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 37,500 shares of the basic materials company’s stock, valued at approximately $1,065,000. Seabridge Gold accounts for 0.7% of Global Strategic Management Inc.’s portfolio, making the stock its 20th biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in SA. Royal Bank of Canada lifted its holdings in Seabridge Gold by 18.3% in the 1st quarter. Royal Bank of Canada now owns 313,637 shares of the basic materials company’s stock worth $8,888,000 after buying an additional 48,445 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Seabridge Gold during the second quarter valued at about $12,685,000. Cibc World Market Inc. purchased a new stake in shares of Seabridge Gold during the second quarter worth about $52,690,000. BlackRock Inc. acquired a new position in shares of Seabridge Gold in the second quarter worth about $10,480,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Seabridge Gold in the first quarter worth about $8,238,000. 34.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada raised their price objective on Seabridge Gold from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Weiss Ratings upgraded Seabridge Gold from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 25th. Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research raised shares of Seabridge Gold to a “hold” rating in a research report on Tuesday, September 1st. Finally, B. Riley Financial assumed coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They issued a “buy” rating and a $40.00 price target for the company. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $56.00.

Seabridge Gold Price Performance

Shares of SA opened at $26.05 on Friday. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 120.57 and a beta of 0.87. Seabridge Gold, Inc. has a 52 week low of $23.69 and a 52 week high of $35.12. The stock has a 50 day moving average of $30.49 and a 200-day moving average of $29.48.

Seabridge Gold Profile

Seabridge Gold Inc is a mineral exploration and development company focused on acquiring, evaluating and advancing large-scale gold and copper deposits. The company does not operate as a producing mining company; its activities center on exploration, technical studies, permitting and project development.

Seabridge’s flagship asset is the KSM project in northwestern British Columbia, Canada, a large gold-copper-silver-molybdenum development project. The company also holds the Iskut project in British Columbia and the Courageous Lake gold project in the Northwest Territories.