Mirae Asset Global Investments Co. Ltd. reduced its holdings in Seabridge Gold Inc (NYSE:SA) (TSE:SEA) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 51,147 shares of the basic materials company’s stock after selling 2,237 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Seabridge Gold were worth $677,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in Seabridge Gold by 515.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,600 shares of the basic materials company’s stock worth $325,000 after acquiring an additional 20,600 shares during the last quarter. LPL Financial LLC bought a new position in Seabridge Gold in the 4th quarter worth about $250,000. Toronto Dominion Bank increased its stake in Seabridge Gold by 13.0% in the 4th quarter. Toronto Dominion Bank now owns 1,004,365 shares of the basic materials company’s stock worth $13,274,000 after acquiring an additional 115,465 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Seabridge Gold in the 4th quarter worth about $257,000. Finally, St. Johns Investment Management Company LLC bought a new position in Seabridge Gold in the 4th quarter worth about $52,000. Institutional investors and hedge funds own 23.66% of the company’s stock.
A number of brokerages have weighed in on SA. Zacks Investment Research lowered Seabridge Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 19th. ValuEngine upgraded Seabridge Gold from a “hold” rating to a “buy” rating in a research note on Monday, February 4th.
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Seabridge Gold Company Profile
Seabridge Gold Inc, a development stage company, together with its subsidiaries, engages in the acquisition and exploration of gold properties located in North America. The company also explores for copper and silver ores. It holds a 100% interest in various North American gold resource projects. The company's principal assets are the Kerr-Sulphurets-Mitchell and Iskut properties located near Stewart, British Columbia, Canada, as well as the Courageous Lake gold project located in Canada's Northwest Territories.
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