Seabridge Gold, Inc. $SA Shares Acquired by Russell Investments Group Ltd.

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. raised its stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 66.3% in the 1st quarter, according to its most recent filing with the SEC. The fund 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 1.19% of Seabridge Gold worth $13,903,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nebula Research & Development LLC grew its position in shares of Seabridge Gold by 6.9% during the 4th quarter. Nebula Research & Development LLC now owns 13,681 shares of the basic materials company's stock valued at $156,000 after buying an additional 881 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Seabridge Gold by 1.4% during the 4th quarter. NewEdge Advisors LLC now owns 83,622 shares of the basic materials company's stock valued at $954,000 after purchasing an additional 1,125 shares during the period. Geode Capital Management LLC boosted its stake in Seabridge Gold by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 37,649 shares of the basic materials company's stock valued at $434,000 after purchasing an additional 1,171 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Seabridge Gold by 2.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,450 shares of the basic materials company's stock valued at $861,000 after purchasing an additional 1,490 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Seabridge Gold by 5.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,850 shares of the basic materials company's stock valued at $318,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 34.85% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Seabridge Gold from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th.

Seabridge Gold Price Performance

Shares of NYSE:SA traded up $0.2050 during trading on Friday, reaching $16.5950. The company had a trading volume of 420,104 shares, compared to its average volume of 823,995. The firm's fifty day moving average is $15.64 and its 200 day moving average is $13.28. The firm has a market capitalization of $1.69 billion, a PE ratio of -43.64 and a beta of 0.64. Seabridge Gold, Inc. has a twelve month low of $9.40 and a twelve month high of $20.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 9.53 and a current ratio of 4.24.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA last issued its quarterly earnings results on Wednesday, August 13th. The basic materials company reported $0.09 earnings per share 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.