Seabridge Gold, Inc. $SA Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 3,413.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,165 shares of the basic materials company’s stock after acquiring an additional 40,965 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Seabridge Gold were worth $1,018,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Kopernik Global Investors LLC lifted its stake in shares of Seabridge Gold by 0.5% in the 2nd quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company’s stock worth $107,195,000 after acquiring an additional 39,651 shares during the period. Cibc World Market Inc. increased its stake in shares of Seabridge Gold by 16.5% during the third quarter. Cibc World Market Inc. now owns 2,131,185 shares of the basic materials company’s stock valued at $51,396,000 after acquiring an additional 302,476 shares during the period. Ontario Teachers Pension Plan Board raised its holdings in Seabridge Gold by 10.8% during the second quarter. Ontario Teachers Pension Plan Board now owns 1,490,415 shares of the basic materials company’s stock worth $21,652,000 after purchasing an additional 145,528 shares in the last quarter. Alps Advisors Inc. lifted its position in Seabridge Gold by 6.3% in the third quarter. Alps Advisors Inc. now owns 545,906 shares of the basic materials company’s stock worth $13,184,000 after purchasing an additional 32,385 shares during the period. Finally, Marshall Wace LLP lifted its position in Seabridge Gold by 11.4% in the second quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock worth $7,868,000 after purchasing an additional 55,262 shares during the period. Institutional investors and hedge funds own 34.85% of the company’s stock.

Seabridge Gold Stock Performance

Seabridge Gold stock opened at $37.51 on Wednesday. Seabridge Gold, Inc. has a fifty-two week low of $9.40 and a fifty-two week high of $37.99. The firm’s 50 day simple moving average is $31.88 and its 200-day simple moving average is $25.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 2.99. The company has a market cap of $4.02 billion, a P/E ratio of -98.72 and a beta of 0.81.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SA shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. Zacks Research raised Seabridge Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. B. Riley Financial upped their price target on shares of Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. Finally, Wall Street Zen lowered shares of Seabridge Gold from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Seabridge Gold presently has a consensus rating of “Hold” and a consensus price target of $65.00.

Seabridge Gold Company 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.