Cubist Systematic Strategies LLC Sells 151,975 Shares of Seabridge Gold, Inc. $SA

Key Points

• Cubist Systematic Strategies LLC reduced its stake in Seabridge Gold, Inc. by 54.2%, selling 151,975 shares and now owning 128,313 shares worth approximately $1.5 million.
• Multiple hedge funds, including Banque Cantonale Vaudoise and Nortwest & Ethical Investments, have initiated new investments in Seabridge Gold, indicating growing interest with 34.85% of the stock now held by institutional investors.
• Wall Street Zen has downgraded Seabridge Gold's rating from "hold" to "sell", amid mixed performance indicators including a 1-year low of $9.40 and a 1-year high of $20.55.

Cubist Systematic Strategies LLC reduced its stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 54.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,313 shares of the basic materials company's stock after selling 151,975 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.13% of Seabridge Gold worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SA. Dimensional Fund Advisors LP grew its stake in shares of Seabridge Gold by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 378,751 shares of the basic materials company's stock valued at $4,321,000 after purchasing an additional 2,663 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Seabridge Gold during the fourth quarter worth approximately $140,000. The Manufacturers Life Insurance Company increased its holdings in shares of Seabridge Gold by 5.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 100,149 shares of the basic materials company's stock worth $1,144,000 after buying an additional 4,951 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of Seabridge Gold by 159.1% during the fourth quarter. Jane Street Group LLC now owns 300,216 shares of the basic materials company's stock worth $3,425,000 after buying an additional 184,341 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Seabridge Gold by 138.6% during the fourth quarter. Bank of America Corp DE now owns 414,500 shares of the basic materials company's stock worth $4,729,000 after buying an additional 240,756 shares in the last quarter. 34.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Seabridge Gold from a "hold" rating to a "sell" rating in a report on Saturday, August 16th.

Seabridge Gold Price Performance

Shares of Seabridge Gold stock traded up $0.25 during midday trading on Wednesday, reaching $17.64. The company had a trading volume of 949,517 shares, compared to its average volume of 836,192. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -46.42 and a beta of 0.68. The stock has a fifty day simple moving average of $16.31 and a 200 day simple moving average of $13.72. Seabridge Gold, Inc. has a 1-year low of $9.40 and a 1-year high of $20.55.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last issued its quarterly earnings results on Wednesday, August 13th. The basic materials company reported $0.09 earnings per share for the quarter.

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.