Empowered Funds LLC Purchases Shares of 71,956 Seabridge Gold, Inc. $SA

Key Points

• Empowered Funds LLC acquired 71,956 Seabridge Gold shares in the second quarter, valued at approximately $1.85 million, giving it a 0.07% stake. Institutional investors collectively own 34.85% of the company.
• Seabridge Gold shares rose 4.9% to open at $32.64, with a market capitalization of $3.52 billion and a 52-week trading range of $23.69 to $35.12.
• Analyst sentiment remains mixed, with ratings split among Buy, Hold, and Sell; the stock carries a consensus rating of Hold and a consensus price target of $40.00.

Empowered Funds LLC acquired a new position in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 71,956 shares of the basic materials company's stock, valued at approximately $1,852,000. Empowered Funds LLC owned about 0.07% of Seabridge Gold as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SA. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold during the fourth quarter worth $30,000. Smartleaf Asset Management LLC purchased a new position in Seabridge Gold during the 4th quarter worth $30,000. Federation des caisses Desjardins du Quebec boosted its holdings in Seabridge Gold by 77.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company's stock worth $31,000 after acquiring an additional 465 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Seabridge Gold in the 4th quarter worth $39,000. Finally, Allworth Financial LP purchased a new stake in shares of Seabridge Gold in the second quarter valued at about $39,000. Institutional investors own 34.85% of the company's stock.

Seabridge Gold Trading Up 4.9%

NYSE SA opened at $32.64 on Friday. The business's fifty day moving average is $28.68 and its 200-day moving average is $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. The stock has a market capitalization of $3.52 billion and a price-to-earnings ratio of -67.44. Seabridge Gold, Inc. has a one year low of $23.69 and a one year high of $35.12.

Analysts Set New Price Targets

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