Quantbot Technologies LP Purchases 19,329 Shares of Seabridge Gold, Inc. $SA

Key Points

• Quantbot Technologies LP increased its stake in Seabridge Gold by 31.2%, owning 81,291 shares valued at approximately $949,000 at the end of the first quarter.
• Other institutional investors, including Raymond James Financial Inc. and Russell Investments Group Ltd., also raised their stakes in the company, indicating a growing interest among large investors.
• Analysts at Wall Street Zen downgraded Seabridge Gold from a "hold" to a "sell" rating, reflecting caution over the stock's future performance.

Quantbot Technologies LP boosted its holdings in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 31.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 81,291 shares of the basic materials company's stock after purchasing an additional 19,329 shares during the period. Quantbot Technologies LP owned approximately 0.08% of Seabridge Gold worth $949,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of SA. Russell Investments Group Ltd. raised its stake in shares of Seabridge Gold by 66.3% during the first quarter. Russell Investments Group Ltd. now owns 1,192,840 shares of the basic materials company's stock valued at $13,903,000 after acquiring an additional 475,352 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in shares of Seabridge Gold by 36.6% during the first quarter. Ontario Teachers Pension Plan Board now owns 1,344,887 shares of the basic materials company's stock valued at $15,657,000 after acquiring an additional 360,183 shares during the last quarter. Bank of America Corp DE raised its stake 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 valued at $4,729,000 after acquiring an additional 240,756 shares during the last quarter. Jane Street Group LLC raised its stake 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 valued at $3,425,000 after acquiring an additional 184,341 shares during the last quarter. Finally, Millennium Management LLC raised its stake 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 valued at $3,638,000 after acquiring an additional 175,078 shares during the last quarter. 34.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Seabridge Gold Trading Down 0.7%

Shares of NYSE SA traded down $0.12 during midday trading on Thursday, hitting $16.49. 683,379 shares of the company traded hands, compared to its average volume of 828,377. The firm has a market cap of $1.68 billion, a P/E ratio of -43.41 and a beta of 0.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 4.24 and a current ratio of 4.24. Seabridge Gold, Inc. has a 12-month low of $9.40 and a 12-month high of $20.55. The stock has a 50-day moving average price of $15.78 and a 200 day moving average price of $13.38.

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

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.