129,833 Seabridge Gold, Inc. $SA Shares Sold by Bank of America Corp DE

Key Points

• Bank of America cut its Seabridge Gold stake by 79.6% in the second quarter, selling 129,833 shares and retaining 33,211 shares valued at approximately $855,000.
• Institutional investors own 34.85% of Seabridge Gold, while several funds—including Allworth Financial, Quantbot Technologies, and Northwestern Mutual—initiated positions during the reported periods.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and a $56 price target; the stock opened at $27.02 and trades within a 52-week range of $23.69 to $35.12.

Bank of America Corp DE lessened its position in shares of Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 79.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,211 shares of the basic materials company's stock after selling 129,833 shares during the quarter. Bank of America Corp DE's holdings in Seabridge Gold were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SA. Financial Gravity Asset Management Inc. bought a new position in Seabridge Gold in the 4th quarter worth $30,000. Allworth Financial LP bought a new stake in shares of Seabridge Gold during the second quarter valued at approximately $39,000. Quantbot Technologies LP purchased a new position in shares of Seabridge Gold in the second quarter worth $43,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Seabridge Gold in the second quarter worth $79,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Seabridge Gold during the fourth quarter worth $167,000. Hedge funds and other institutional investors own 34.85% of the company's stock.

Wall Street Analysts Forecast Growth

SA has been the subject of several research analyst reports. Wall Street Zen raised shares of Seabridge Gold from a "sell" rating to a "hold" rating in a research note on Saturday, August 15th. Zacks Research upgraded Seabridge Gold to a "hold" rating in a research report on Tuesday, September 1st. B. Riley Financial initiated coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They issued a "buy" rating and a $40.00 target price for the company. Royal Bank Of Canada boosted their price target on shares of Seabridge Gold from $71.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 16th. Finally, Weiss Ratings raised shares of Seabridge Gold from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, September 25th. Two research analysts have 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, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.00.

Seabridge Gold Stock Performance

Shares of SA stock opened at $27.02 on Friday. The stock has a market cap of $2.92 billion, a PE ratio of -55.84 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 business has a 50-day simple moving average of $30.47 and a 200-day simple moving average of $29.45. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46.

About Seabridge Gold

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.

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