Van ECK Associates Corp Boosts Stock Holdings in Seabridge Gold, Inc. $SA

Van ECK Associates Corp lifted its position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 210.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,178,662 shares of the basic materials company’s stock after purchasing an additional 5,543,170 shares during the period. Van ECK Associates Corp owned about 0.08% of Seabridge Gold worth $197,514,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Kopernik Global Investors LLC lifted its stake in Seabridge Gold by 0.5% in the second 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. lifted its position in 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 buying an additional 302,476 shares during the period. Ontario Teachers Pension Plan Board boosted its stake 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 acquiring an additional 145,528 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Seabridge Gold by 1,867.5% during the third quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock valued at $31,284,000 after purchasing an additional 1,231,002 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Seabridge Gold by 26.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 547,132 shares of the basic materials company’s stock valued at $13,211,000 after buying an additional 112,797 shares in the last quarter. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. Wall Street Zen cut shares of Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. B. Riley Financial upped their price objective on Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Finally, Zacks Research raised shares of Seabridge Gold from a “strong sell” rating to a “hold” rating in a research report on Thursday, January 1st. One research 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’s stock. Based on data from MarketBeat, Seabridge Gold presently has a consensus rating of “Hold” and an average target price of $65.00.

Seabridge Gold Stock Performance

SA opened at $34.01 on Tuesday. The firm has a market cap of $3.65 billion, a P/E ratio of -89.50 and a beta of 0.75. Seabridge Gold, Inc. has a 1-year low of $9.40 and a 1-year high of $40.06. The company has a 50 day simple moving average of $32.95 and a two-hundred day simple moving average of $27.19. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 2.99.

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.