Van ECK Associates Corp Reduces Position in Seabridge Gold, Inc. $SA

Van ECK Associates Corp cut its position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 12.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,153,563 shares of the basic materials company’s stock after selling 1,025,099 shares during the period. Van ECK Associates Corp owned 6.68% of Seabridge Gold worth $211,677,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Tidal Investments LLC increased its position in shares of Seabridge Gold by 12.4% in the 3rd quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock valued at $74,184,000 after purchasing an additional 339,913 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Seabridge Gold by 82.9% in the 4th quarter. Vanguard Group Inc. now owns 2,371,496 shares of the basic materials company’s stock valued at $70,305,000 after purchasing an additional 1,074,577 shares during the last quarter. Cibc World Market Inc. increased its position in shares of Seabridge Gold by 2.4% in the 4th quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock valued at $64,712,000 after purchasing an additional 51,350 shares during the last quarter. Amundi increased its position in shares of Seabridge Gold by 5.2% in the 3rd quarter. Amundi now owns 740,149 shares of the basic materials company’s stock valued at $18,296,000 after purchasing an additional 36,868 shares during the last quarter. Finally, Alps Advisors Inc. increased its position in shares of Seabridge Gold by 0.6% in the 4th quarter. Alps Advisors Inc. now owns 549,225 shares of the basic materials company’s stock valued at $16,252,000 after purchasing an additional 3,319 shares during the last quarter. 34.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SA shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. Wall Street Zen raised shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $65.00.

Seabridge Gold Trading Up 4.2%

NYSE SA opened at $28.13 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. The firm’s fifty day moving average price is $30.64 and its 200 day moving average price is $30.92. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -58.11 and a beta of 0.89. Seabridge Gold, Inc. has a 12 month low of $24.73 and a 12 month high of $30.82.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). On average, sell-side analysts expect that Seabridge Gold, Inc. will post -0.17 earnings per share for the current fiscal year.

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