Raymond James Financial Inc. Boosts Stock Position in Seabridge Gold, Inc. $SA

Key Points

• Raymond James Financial Inc. has increased its stake in Seabridge Gold, Inc. by 7.9%, acquiring an additional 88,115 shares in the first quarter, bringing its total holdings to 1,199,101 shares valued at approximately $13.99 million.
• Other institutional investors are also increasing their positions in Seabridge Gold, with notable acquisitions including Banque Cantonale Vaudoise and Ewing Morris & Co..
• Wall Street analysts downgraded Seabridge Gold from a "hold" to a "sell" rating, indicating a potential decrease in investor confidence.

Raymond James Financial Inc. increased its stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,199,101 shares of the basic materials company's stock after buying an additional 88,115 shares during the quarter. Raymond James Financial Inc. owned about 1.19% of Seabridge Gold worth $13,994,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SA. Russell Investments Group Ltd. lifted its position in Seabridge Gold by 66.3% in the first quarter. Russell Investments Group Ltd. now owns 1,192,840 shares of the basic materials company's stock worth $13,903,000 after buying an additional 475,352 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its position in Seabridge Gold by 36.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 1,344,887 shares of the basic materials company's stock worth $15,657,000 after buying an additional 360,183 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Seabridge Gold by 138.6% during the fourth quarter. Bank of America Corp DE now owns 414,500 shares of the basic materials company's stock worth $4,729,000 after purchasing an additional 240,756 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Seabridge Gold by 159.1% during the fourth quarter. Jane Street Group LLC now owns 300,216 shares of the basic materials company's stock worth $3,425,000 after purchasing an additional 184,341 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Seabridge Gold by 121.8% during the fourth quarter. Millennium Management LLC now owns 318,803 shares of the basic materials company's stock worth $3,638,000 after purchasing an additional 175,078 shares during the last quarter. 34.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Seabridge Gold Stock Up 5.8%

Shares of Seabridge Gold stock traded up $0.96 during trading on Monday, hitting $17.46. 1,447,059 shares of the stock traded hands, compared to its average volume of 825,111. The firm has a market cap of $1.78 billion, a P/E ratio of -45.93 and a beta of 0.68. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.57. Seabridge Gold, Inc. has a 52-week low of $9.40 and a 52-week high of $20.55. The stock's fifty day simple moving average is $15.87 and its 200 day simple moving average is $13.44.

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