National Bank of Canada FI Has $941,000 Stock Position in Seabridge Gold, Inc. $SA

Key Points

• National Bank of Canada FI has significantly reduced its stake in Seabridge Gold, Inc., slashing its holdings by 97.6% to approximately 0.08% of the company, valued at $941,000.
• Several other hedge funds have modified their positions, with Nebula Research & Development LLC increasing its stake by 6.9% in the last quarter.
• Wall Street Zen has downgraded Seabridge Gold from a "hold" rating to a "sell" rating, reflecting a shift in market sentiment towards the stock.

National Bank of Canada FI trimmed its holdings in shares of Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 97.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,756 shares of the basic materials company's stock after selling 3,416,578 shares during the quarter. National Bank of Canada FI owned about 0.08% of Seabridge Gold worth $941,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Seabridge Gold by 20.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 51,020 shares of the basic materials company's stock valued at $595,000 after buying an additional 8,732 shares during the period. Millennium Management LLC lifted its stake in shares of Seabridge Gold by 121.8% in the fourth quarter. Millennium Management LLC now owns 318,803 shares of the basic materials company's stock valued at $3,638,000 after buying an additional 175,078 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Seabridge Gold by 5.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,850 shares of the basic materials company's stock valued at $318,000 after buying an additional 1,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Seabridge Gold by 13.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,951 shares of the basic materials company's stock valued at $290,000 after buying an additional 3,044 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in shares of Seabridge Gold in the fourth quarter valued at about $273,000. 34.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Seabridge Gold from a "hold" rating to a "sell" rating in a research note on Saturday.

Seabridge Gold Price Performance

Shares of NYSE SA traded down $0.6350 during mid-day trading on Tuesday, hitting $16.2550. 689,653 shares of the stock were exchanged, compared to its average volume of 829,276. The company has a market cap of $1.66 billion, a P/E ratio of -42.78 and a beta of 0.64. The stock's fifty day simple moving average is $15.53 and its two-hundred day simple moving average is $13.21. The company has a debt-to-equity ratio of 0.56, a quick ratio of 9.53 and a current ratio of 9.53. Seabridge Gold, Inc. has a twelve month low of $9.40 and a twelve month high of $20.55.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last posted its quarterly earnings data 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.