Kopernik Global Investors LLC Acquires 353,252 Shares of Seabridge Gold, Inc. $SA

Key Points

• Kopernik Global Investors increased its stake in Seabridge Gold by 5.1% in the first quarter, buying 353,252 additional shares and bringing its total to 7,332,863 shares. The fund now owns 6.81% of the company and makes Seabridge its largest portfolio holding.
• Several other institutional investors also added to or initiated positions in Seabridge Gold, and hedge funds and institutions collectively own 34.85% of the stock. This suggests continued institutional interest despite mixed sentiment.
• Analyst sentiment remains cautious: ratings recently included downgrades from Weiss Ratings and Zacks Research, while Wall Street Zen slightly improved its view. The stock was up 3.7% to $27.32, and Seabridge reported quarterly EPS of -$0.04, matching expectations.

Kopernik Global Investors LLC boosted its holdings in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,332,863 shares of the basic materials company's stock after purchasing an additional 353,252 shares during the quarter. Seabridge Gold comprises 14.5% of Kopernik Global Investors LLC's investment portfolio, making the stock its largest holding. Kopernik Global Investors LLC owned 6.81% of Seabridge Gold worth $207,813,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new position in Seabridge Gold in the fourth quarter valued at $30,000. Smartleaf Asset Management LLC acquired a new stake in shares of Seabridge Gold during the fourth quarter worth about $30,000. Federation des caisses Desjardins du Quebec boosted its stake in shares of Seabridge Gold by 77.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company's stock worth $31,000 after buying an additional 465 shares during the period. Banque Cantonale Vaudoise purchased a new position in shares of Seabridge Gold during the fourth quarter worth about $39,000. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Seabridge Gold by 274.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,706 shares of the basic materials company's stock worth $50,000 after buying an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 34.85% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SA. Weiss Ratings downgraded Seabridge Gold from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, July 16th. Zacks Research downgraded Seabridge Gold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen raised Seabridge Gold from a "strong sell" rating to a "sell" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $65.00.

Seabridge Gold Stock Up 3.7%

SA stock opened at $27.32 on Thursday. Seabridge Gold, Inc. has a one year low of $23.69 and a one year high of $33.04. The stock has a market capitalization of $2.94 billion, a PE ratio of -56.44 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71. The company has a fifty day moving average of $28.41 and a 200-day moving average of $30.47.

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

Seabridge Gold Company 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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