Seabridge Gold, Inc. $SA Shares Sold by Amundi

Key Points

• Amundi cut its Seabridge Gold stake by 95.9% in the second quarter, selling 505,406 shares and retaining 21,446 shares valued at approximately $552,000.
• Other institutional investors increased or initiated positions, including Kopernik Global Investors, Ontario Teachers’ Pension Plan Board and TD Asset Management. Institutional investors collectively own 34.85% of Seabridge Gold.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $56 average price target. Shares opened at $29.19, compared with a 52-week range of $23.69 to $35.12.

Amundi reduced its stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 95.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,446 shares of the basic materials company's stock after selling 505,406 shares during the quarter. Amundi's holdings in Seabridge Gold were worth $552,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SA. Kopernik Global Investors LLC raised its holdings in Seabridge Gold by 5.1% during the first quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company's stock worth $207,813,000 after purchasing an additional 353,252 shares in the last quarter. Cibc World Market Inc. increased its position in Seabridge Gold by 2.4% during the 4th quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company's stock worth $64,712,000 after purchasing an additional 51,350 shares during the period. Ontario Teachers Pension Plan Board purchased a new position in shares of Seabridge Gold during the 2nd quarter worth approximately $45,048,000. Clear Street Group Inc. purchased a new position in shares of Seabridge Gold during the 4th quarter worth approximately $25,891,000. Finally, TD Asset Management Inc lifted its holdings in shares of Seabridge Gold by 109.1% in the 4th quarter. TD Asset Management Inc now owns 539,446 shares of the basic materials company's stock valued at $16,013,000 after buying an additional 281,512 shares during the period. Institutional investors and hedge funds own 34.85% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Zacks Research upgraded shares of Seabridge Gold to a "hold" rating in a research report on Tuesday, September 1st. Weiss Ratings upgraded shares of Seabridge Gold from a "sell (d-)" rating to a "sell (d)" rating in a research note on Tuesday, August 18th. B. Riley Financial began coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They set a "buy" rating and a $40.00 price objective on the stock. Wall Street Zen upgraded shares of Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada increased their target price on shares of Seabridge Gold from $71.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Seabridge Gold presently has a consensus rating of "Hold" and a consensus price target of $56.00.

Seabridge Gold Price Performance

Shares of NYSE SA opened at $29.19 on Thursday. The stock has a market cap of $3.15 billion and a price-to-earnings ratio of -60.31. Seabridge Gold, Inc. has a 52 week low of $23.69 and a 52 week high of $35.12. The company's 50-day moving average price is $29.49 and its 200 day moving average price is $29.83. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46.

Seabridge Gold Company Profile

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on advancing large-scale gold and copper projects in North America. The company does not operate producing mines; its activities center on acquiring, exploring, evaluating and permitting mineral properties.

Seabridge's principal asset is the KSM project in northwestern British Columbia, a large undeveloped gold, copper, silver and molybdenum project. The company also holds interests in the Iskut project in British Columbia, the Courageous Lake project in Canada's Northwest Territories, and the Snowstorm project in Nevada.

Founded in 1999, Seabridge Gold is headquartered in Toronto, Canada, and its shares trade on the New York Stock Exchange under the symbol SA and on the Toronto Stock Exchange under the symbol SEA.

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