PKO Investment Management Joint Stock Co Acquires Shares of 45,000 Seabridge Gold, Inc. $SA

Key Points

• PKO Investment Management acquired a new stake of 45,000 shares in Seabridge Gold (NYSE:SA) in Q4, valued at about $1.336 million.
• Several large funds also boosted positions — VanEck now owns 8,178,662 shares after adding ~5.54M and Vanguard increased by ~1.23M to 1,296,919 shares; institutional investors hold 34.85% of the company.
• Seabridge reported quarterly EPS of -$0.30, missing the -$0.03 estimate; the stock trades near $28 with a ~$3.03B market cap and carries an average analyst rating of "Reduce" despite an average target price of $65.

PKO Investment Management Joint Stock Co acquired a new stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,000 shares of the basic materials company's stock, valued at approximately $1,336,000.

A number of other hedge funds also recently bought and sold shares of SA. Van ECK Associates Corp raised its holdings in Seabridge Gold by 210.3% in the 3rd quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company's stock valued at $197,514,000 after acquiring an additional 5,543,170 shares during the last quarter. Vanguard Group Inc. raised its holdings in Seabridge Gold by 1,867.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company's stock valued at $31,284,000 after acquiring an additional 1,231,002 shares during the last quarter. Tidal Investments LLC raised its holdings in Seabridge Gold by 12.4% in the 3rd quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company's stock valued at $74,184,000 after acquiring an additional 339,913 shares during the last quarter. Cibc World Market Inc. raised its holdings in Seabridge Gold by 16.5% in the 3rd quarter. Cibc World Market Inc. now owns 2,131,185 shares of the basic materials company's stock valued at $51,396,000 after acquiring an additional 302,476 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Seabridge Gold by 65.8% in the 3rd quarter. Bank of America Corp DE now owns 513,534 shares of the basic materials company's stock valued at $12,402,000 after acquiring an additional 203,885 shares during the last quarter. Institutional investors and hedge funds own 34.85% of the company's stock.

Seabridge Gold Stock Performance

Seabridge Gold stock opened at $28.12 on Monday. The firm has a 50 day simple moving average of $31.29 and a 200-day simple moving average of $29.63. Seabridge Gold, Inc. has a 1-year low of $11.12 and a 1-year high of $40.06. The company has a debt-to-equity ratio of 0.53, a current ratio of 5.24 and a quick ratio of 5.24. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -78.11 and a beta of 0.83.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last posted its quarterly earnings results on Thursday, March 26th. The basic materials company reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.27). On average, analysts expect that Seabridge Gold, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

SA has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Seabridge Gold in a report on Friday, March 27th. Zacks Research cut shares of Seabridge Gold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, Seabridge Gold has an average rating of "Reduce" and an average target price of $65.00.

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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