Royal Bank of Canada Acquires 48,445 Shares of Seabridge Gold, Inc. $SA

Key Points

• Royal Bank of Canada increased its Seabridge Gold stake by 18.3% in the first quarter, acquiring 48,445 shares and bringing its total holdings to 313,637 shares valued at approximately $8.9 million.
• Institutional ownership stands at 34.85%, with several investors—including Sei Investments, Nebula Research, and Marshall Wace—also increasing their positions.
• Analyst sentiment is mostly negative: Seabridge Gold has a consensus “Reduce” rating, despite B. Riley assigning a “Buy” rating and a $40 price target. The stock recently traded at $31.17.

Royal Bank of Canada grew its holdings in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 18.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 313,637 shares of the basic materials company's stock after buying an additional 48,445 shares during the quarter. Royal Bank of Canada owned approximately 0.29% of Seabridge Gold worth $8,888,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SA. Baird Financial Group Inc. bought a new stake in Seabridge Gold during the 1st quarter worth about $122,000. Geode Capital Management LLC lifted its position in shares of Seabridge Gold by 9.8% during the second quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company's stock worth $652,000 after purchasing an additional 3,982 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Seabridge Gold by 11.4% during the second quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company's stock worth $7,868,000 after purchasing an additional 55,262 shares in the last quarter. Nebula Research & Development LLC grew its stake in shares of Seabridge Gold by 36.4% during the second quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company's stock valued at $402,000 after purchasing an additional 7,374 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Seabridge Gold by 121.4% during the second quarter. Sei Investments Co. now owns 251,705 shares of the basic materials company's stock valued at $3,655,000 after purchasing an additional 138,012 shares during the last quarter. 34.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SA. Weiss Ratings upgraded shares of Seabridge Gold from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, August 4th. Zacks Research cut Seabridge Gold from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 14th. Wall Street Zen upgraded Seabridge Gold from a "strong sell" rating to a "sell" rating in a research report on Saturday, May 9th. Finally, B. Riley Financial began coverage on Seabridge Gold in a research note on Monday, August 3rd. They set a "buy" rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Seabridge Gold presently has a consensus rating of "Reduce" and a consensus target price of $40.00.

Seabridge Gold Trading Up 0.1%

SA opened at $31.17 on Monday. The firm's fifty day moving average is $27.57 and its two-hundred day moving average is $30.12. The firm has a market cap of $3.35 billion, a PE ratio of -64.40 and a beta of 0.89. Seabridge Gold, Inc. has a twelve month low of $23.69 and a twelve month high of $33.04. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last released its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, meeting analysts' consensus estimates of ($0.04). Equities research analysts anticipate that Seabridge Gold, Inc. will post -0.17 EPS for the current year.

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. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.

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