Alps Advisors Inc. Buys 133,368 Shares of Seabridge Gold, Inc. $SA

Key Points

• Alps Advisors increased its Seabridge Gold stake by 30.4% in the third quarter, adding 133,368 shares to hold 571,766 shares, valued at about $16.2 million.
• Hedge funds and other institutions own 34.85% of Seabridge Gold; several other major investors also established or expanded positions.
• Analyst views are mixed, but the consensus rating is Hold, with a consensus price target of $56. Shares opened at $26.41.

Alps Advisors Inc. boosted its stake in shares of Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 30.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 571,766 shares of the basic materials company's stock after acquiring an additional 133,368 shares during the quarter. Alps Advisors Inc. owned about 0.53% of Seabridge Gold worth $16,204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Seabridge Gold by 18.3% during the 1st quarter. Royal Bank of Canada now owns 313,637 shares of the basic materials company's stock valued at $8,888,000 after purchasing an additional 48,445 shares during the last quarter. Deutsche Bank AG bought a new stake in Seabridge Gold in the second quarter worth about $12,685,000. Cibc World Market Inc. bought a new stake in Seabridge Gold in the second quarter worth about $52,690,000. BlackRock Inc. bought a new stake in Seabridge Gold in the second quarter worth about $10,480,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Seabridge Gold during the first quarter valued at approximately $8,238,000. 34.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SA. B. Riley Financial started coverage on Seabridge Gold in a report on Monday, August 3rd. They issued a "buy" rating and a $40.00 price target on the stock. Zacks Research upgraded Seabridge Gold to a "hold" rating in a report on Tuesday, September 1st. Weiss Ratings raised Seabridge Gold from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 25th. Wall Street Zen raised Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada increased their target price on Seabridge Gold from $71.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 16th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $56.00.

Seabridge Gold Stock Performance

Shares of NYSE:SA opened at $26.41 on Friday. The firm has a market cap of $2.85 billion, a PE ratio of 128.23 and a beta of 0.84. The firm's 50 day simple moving average is $28.20 and its 200-day simple moving average is $29.81. Seabridge Gold, Inc. has a one year low of $23.26 and a one year high of $35.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71.

About Seabridge Gold

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on discovering and advancing large-scale gold and copper deposits in North America. The company does not currently operate producing mines; its activities center on mineral exploration, resource definition, permitting and project development.

Seabridge's principal asset is the KSM project in northwestern British Columbia, one of the world's largest undeveloped gold-copper projects. The company also holds the Iskut project in British Columbia and the Courageous Lake project in Canada's Northwest Territories.

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