Ontario Teachers Pension Plan Board Takes Position in Seabridge Gold, Inc. $SA

Key Points

• Ontario Teachers’ Pension Plan Board acquired 1.75 million Seabridge Gold shares worth approximately $45.0 million, representing about 1.62% of the company.
• Institutional ownership stands at 34.85%, with several major investors—including Vanguard and Tidal Investments—also increasing their positions.
• Seabridge Gold shares recently traded at $31.06, down 4.2%; analysts’ consensus rating is “Reduce”, despite one $40 buy-price target and an average target price of $40.

Ontario Teachers Pension Plan Board acquired a new position in shares of Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,747,341 shares of the basic materials company's stock, valued at approximately $45,048,000. Ontario Teachers Pension Plan Board owned approximately 1.62% of Seabridge Gold at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kopernik Global Investors LLC increased its position in Seabridge Gold by 5.1% in the 1st quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company's stock valued at $207,813,000 after buying an additional 353,252 shares in the last quarter. Tidal Investments LLC boosted its holdings in 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 worth $74,184,000 after acquiring an additional 339,913 shares in the last quarter. Vanguard Group Inc. grew its stake in 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 acquiring an additional 1,074,577 shares during the period. Cibc World Market Inc. grew its stake in Seabridge Gold by 2.4% in 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 acquiring an additional 51,350 shares during the period. Finally, Toronto Dominion Bank grew its stake in Seabridge Gold by 2.2% in the fourth quarter. Toronto Dominion Bank now owns 1,024,001 shares of the basic materials company's stock valued at $30,358,000 after acquiring an additional 21,679 shares during the period. 34.85% of the stock is currently owned by institutional investors and hedge funds.

Seabridge Gold Trading Down 4.2%

SA opened at $31.06 on Wednesday. Seabridge Gold, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $34.19. The firm has a market capitalization of $3.34 billion, a PE ratio of -64.17 and a beta of 0.89. 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 company's 50-day moving average is $27.63 and its 200 day moving average is $30.00.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday. B. Riley Financial initiated coverage on Seabridge Gold in a report on Monday, August 3rd. They issued a "buy" rating and a $40.00 target price on the stock. Finally, Weiss Ratings raised shares of Seabridge Gold from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Seabridge Gold has a consensus rating of "Reduce" and an average target price 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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