Cibc World Market Inc. Takes $52.69 Million Position in Seabridge Gold, Inc. $SA

Cibc World Market Inc. purchased a new stake in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) during the second quarter, according to its most recent filing with the SEC. The firm purchased 2,043,519 shares of the basic materials company’s stock, valued at approximately $52,690,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold in the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC bought a new position in shares of Seabridge Gold during the fourth quarter worth $30,000. Federation des caisses Desjardins du Quebec boosted its position in shares of Seabridge Gold by 77.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 465 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Seabridge Gold in the 4th quarter valued at $39,000. Finally, Allworth Financial LP acquired a new position in shares of Seabridge Gold in the 2nd quarter valued at $39,000. Institutional investors own 34.85% of the company’s stock.

Seabridge Gold Stock Performance

Shares of SA stock opened at $29.97 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71. The company has a market capitalization of $3.23 billion, a P/E ratio of -61.92 and a beta of 0.89. The company’s 50 day moving average price is $27.96 and its two-hundred day moving average price is $30.06. Seabridge Gold, Inc. has a 52 week low of $23.69 and a 52 week high of $34.59.

Analyst Ratings Changes

SA has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Seabridge Gold from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. B. Riley Financial began coverage on Seabridge Gold in a report on Monday, August 3rd. They set a “buy” rating and a $40.00 target price on the stock. Finally, Weiss Ratings raised Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Seabridge Gold has an average rating of “Reduce” and an average price target of $40.00.

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.