Dimensional Fund Advisors LP Cuts Stock Holdings in Seabridge Gold, Inc. $SA

Key Points

• Dimensional Fund Advisors reduced its Seabridge Gold stake by 8.5% in the first quarter, selling 41,226 shares and retaining 443,268 shares worth approximately $12.5 million, or 0.41% of the company.
• Seabridge Gold shares rose 7.5% and opened at $31.17, while the company reported quarterly EPS of negative $0.04, in line with analyst expectations.
• Analyst sentiment remains cautious: Seabridge has a consensus rating of “Reduce”, despite one Buy rating and a $40 average price target; institutional and hedge-fund investors own 34.85% of the stock.

Dimensional Fund Advisors LP lowered its stake in shares of Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 443,268 shares of the basic materials company's stock after selling 41,226 shares during the quarter. Dimensional Fund Advisors LP owned 0.41% of Seabridge Gold worth $12,549,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Kopernik Global Investors LLC boosted its holdings in Seabridge Gold by 0.5% during the 4th quarter. Kopernik Global Investors LLC now owns 6,979,611 shares of the basic materials company's stock worth $206,527,000 after acquiring an additional 32,945 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Seabridge Gold by 12.4% in the third quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company's stock valued at $74,184,000 after purchasing an additional 339,913 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Seabridge Gold by 82.9% in the fourth quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company's stock valued at $70,305,000 after purchasing an additional 1,074,577 shares during the last quarter. Cibc World Market Inc. lifted its position in shares of Seabridge Gold by 2.4% during the fourth quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company's stock valued at $64,712,000 after purchasing an additional 51,350 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its position in shares of Seabridge Gold by 11.7% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 1,664,634 shares of the basic materials company's stock valued at $49,350,000 after purchasing an additional 174,219 shares in the last quarter. 34.85% of the stock is owned by hedge funds and other institutional investors.

Seabridge Gold Trading Up 7.5%

Shares of Seabridge Gold stock opened at $31.17 on Friday. Seabridge Gold, Inc. has a 1 year low of $23.69 and a 1 year high of $33.04. The firm has a market cap of $3.35 billion, a PE ratio of -64.40 and a beta of 0.89. The stock has a fifty day moving average price of $27.57 and a 200-day moving average price of $30.13. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last released its earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, hitting analysts' consensus estimates of ($0.04). Equities research analysts anticipate that Seabridge Gold, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SA. Weiss Ratings upgraded shares of Seabridge Gold from a "sell (e+)" rating to a "sell (d-)" rating in a report on Tuesday. Zacks Research cut shares of Seabridge Gold from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 14th. B. Riley Financial started coverage on shares of Seabridge Gold in a research report on Monday, August 3rd. They set a "buy" rating and a $40.00 target price on the stock. Finally, Wall Street Zen upgraded Seabridge Gold from a "strong sell" rating to a "sell" rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Seabridge Gold currently has a consensus rating of "Reduce" and an average price target of $40.00.

Seabridge Gold 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.

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