National Bank of Canada FI Decreases Stake 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 reduced its stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 97.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Banque Cantonale Vaudoise purchased a new position in Seabridge Gold in the 1st quarter worth approximately $26,000. Ewing Morris & Co. Investment Partners Ltd. bought a new stake in shares of Seabridge Gold during the 4th quarter worth $138,000. Tudor Investment Corp ET AL bought a new stake in shares of Seabridge Gold during the 4th quarter worth $140,000. Nebula Research & Development LLC grew its position in Seabridge Gold by 6.9% in the fourth quarter. Nebula Research & Development LLC now owns 13,681 shares of the basic materials company's stock worth $156,000 after acquiring an additional 881 shares in the last quarter. Finally, CWM LLC increased its stake in Seabridge Gold by 13.4% in the first quarter. CWM LLC now owns 15,026 shares of the basic materials company's stock valued at $175,000 after acquiring an additional 1,775 shares during the last quarter. 34.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Seabridge Gold Trading Up 1.0%

Shares of SA traded up $0.1650 during mid-day trading on Thursday, reaching $16.3550. The company's stock had a trading volume of 662,330 shares, compared to its average volume of 671,896. Seabridge Gold, Inc. has a 52 week low of $9.40 and a 52 week high of $20.55. The stock has a market cap of $1.67 billion, a PE ratio of -43.04 and a beta of 0.64. The company's fifty day moving average price is $15.64 and its two-hundred day moving average price is $13.28. The company has a current ratio of 4.24, a quick ratio of 9.53 and a debt-to-equity ratio of 0.57.

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

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.