Russell Investments Group Ltd. Raises Stock Position in Seabridge Gold, Inc. $SA

Key Points

• Russell Investments Group Ltd. increased its stake in Seabridge Gold, Inc. by 66.3%, owning approximately 1.19% of the company after acquiring an additional 475,352 shares.
• Other hedge funds, including JPMorgan Chase & Co. and Barclays PLC, also significantly boosted their holdings in Seabridge Gold during the previous quarter.
• Despite these investments, Wall Street Zen downgraded Seabridge Gold's stock rating from "hold" to "sell" recently.

Russell Investments Group Ltd. boosted its stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 66.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,192,840 shares of the basic materials company's stock after purchasing an additional 475,352 shares during the period. Russell Investments Group Ltd. owned approximately 1.19% of Seabridge Gold worth $13,903,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Seabridge Gold by 459.3% in the 4th quarter. JPMorgan Chase & Co. now owns 135,269 shares of the basic materials company's stock worth $1,543,000 after buying an additional 111,084 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Seabridge Gold by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 37,649 shares of the basic materials company's stock valued at $434,000 after acquiring an additional 1,171 shares during the period. Barclays PLC lifted its holdings in Seabridge Gold by 3.0% in the fourth quarter. Barclays PLC now owns 132,045 shares of the basic materials company's stock valued at $1,507,000 after acquiring an additional 3,802 shares during the period. NewEdge Advisors LLC boosted its position in Seabridge Gold by 1.4% in the fourth quarter. NewEdge Advisors LLC now owns 83,622 shares of the basic materials company's stock worth $954,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Seabridge Gold by 97.7% during the 4th quarter. Marshall Wace LLP now owns 182,196 shares of the basic materials company's stock valued at $2,079,000 after purchasing an additional 90,057 shares during the period. 34.85% of the stock is currently owned by hedge funds and other institutional investors.

Seabridge Gold Stock Up 1.1%

Shares of SA stock opened at $16.75 on Monday. The company has a current ratio of 9.53, a quick ratio of 9.53 and a debt-to-equity ratio of 0.56. Seabridge Gold, Inc. has a 12 month low of $9.40 and a 12 month high of $20.55. The stock has a market cap of $1.71 billion, a P/E ratio of -44.08 and a beta of 0.64. The company has a 50 day simple moving average of $15.49 and a two-hundred day simple moving average of $13.18.

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

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Seabridge Gold from a "hold" rating to a "sell" rating in a research report on Saturday.

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.

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