407,132 Shares in Seabridge Gold, Inc. $SA Bought by BlackRock Inc.

BlackRock Inc. acquired a new stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 407,132 shares of the basic materials company's stock, valued at approximately $10,480,000. BlackRock Inc. owned about 0.38% of Seabridge Gold at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kopernik Global Investors LLC raised its holdings in Seabridge Gold by 5.1% in the first quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company's stock worth $207,813,000 after purchasing an additional 353,252 shares during the period. Tidal Investments LLC grew its holdings in shares of Seabridge Gold by 12.4% in the 3rd quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company's stock valued at $74,184,000 after buying an additional 339,913 shares during the period. Vanguard Group Inc. increased its position in shares of Seabridge Gold by 82.9% in the 4th quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company's stock valued at $70,305,000 after buying an additional 1,074,577 shares in the last quarter. Cibc World Market Inc. increased its position in shares of Seabridge Gold by 2.4% in the 4th quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company's stock valued at $64,712,000 after buying an additional 51,350 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board raised its stake in Seabridge Gold by 11.7% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 1,664,634 shares of the basic materials company's stock worth $49,350,000 after buying an additional 174,219 shares during the period. Institutional investors own 34.85% of the company's stock.

Seabridge Gold Price Performance

NYSE:SA opened at $31.80 on Friday. The company has a market cap of $3.43 billion and a P/E ratio of -65.70. The firm's fifty day moving average price is $28.80 and its two-hundred day moving average price is $30.15. Seabridge Gold, Inc. has a one year low of $23.69 and a one year high of $35.12. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SA. B. Riley Financial assumed coverage on Seabridge Gold in a research note on Monday, August 3rd. They issued a "buy" rating and a $40.00 target price for the company. Weiss Ratings raised Seabridge Gold from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded Seabridge Gold from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Finally, Zacks Research upgraded Seabridge Gold to a "hold" rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $40.00.

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.

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