Van ECK Associates Corp Acquires 5,543,170 Shares of Seabridge Gold, Inc. $SA

Key Points

• VanECK Associates increased its stake in Seabridge Gold by 210.3% in Q3, purchasing an additional 5,543,170 shares to hold 8,178,662 shares (about 7.88%) valued at ~$197.5 million.
• Other institutions also boosted positions — notably Vanguard added 1,231,002 shares (a 1,867.5% increase) — leaving total institutional ownership at roughly 34.85%.
• Analyst views are mixed: B. Riley raised its price target to $65 with a Buy, but the consensus rating is a Hold, and Seabridge trades around $34 with a market cap near $3.65 billion.

Van ECK Associates Corp raised its stake in Seabridge Gold, Inc. (NYSE:SA - Free Report) TSE: SEA by 210.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,178,662 shares of the basic materials company's stock after purchasing an additional 5,543,170 shares during the quarter. Van ECK Associates Corp owned approximately 7.88% of Seabridge Gold worth $197,514,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kopernik Global Investors LLC increased its holdings in shares of Seabridge Gold by 0.5% during the 2nd quarter. Kopernik Global Investors LLC now owns 7,382,606 shares of the basic materials company's stock worth $107,195,000 after acquiring an additional 39,651 shares during the last quarter. Cibc World Market Inc. raised its position in shares of Seabridge Gold by 16.5% in the third quarter. Cibc World Market Inc. now owns 2,131,185 shares of the basic materials company's stock valued at $51,396,000 after buying an additional 302,476 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its position in shares of Seabridge Gold by 10.8% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 1,490,415 shares of the basic materials company's stock valued at $21,652,000 after acquiring an additional 145,528 shares during the period. Vanguard Group Inc. increased its position in shares of Seabridge Gold by 1,867.5% in the third quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company's stock worth $31,284,000 after purchasing an additional 1,231,002 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Seabridge Gold by 26.0% during the third quarter. Dimensional Fund Advisors LP now owns 547,132 shares of the basic materials company's stock worth $13,211,000 after purchasing an additional 112,797 shares during the period. 34.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

SA has been the subject of several recent analyst reports. B. Riley Financial upped their price objective on Seabridge Gold from $50.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, December 2nd. Zacks Research upgraded shares of Seabridge Gold from a "strong sell" rating to a "hold" rating in a research report on Thursday, January 1st. Wall Street Zen cut Seabridge Gold from a "hold" rating to a "sell" rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Seabridge Gold in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Seabridge Gold has a consensus rating of "Hold" and an average price target of $65.00.

Seabridge Gold Trading Up 1.4%

Shares of Seabridge Gold stock opened at $34.01 on Tuesday. The stock has a fifty day moving average price of $32.95 and a 200-day moving average price of $27.19. Seabridge Gold, Inc. has a 1 year low of $9.40 and a 1 year high of $40.06. The firm has a market cap of $3.65 billion, a PE ratio of -89.50 and a beta of 0.75. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.99 and a quick ratio of 2.99.

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

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