Bleakley Financial Group LLC Has $5.38 Million Stock Holdings in Seabridge Gold, Inc. $SA

Bleakley Financial Group LLC grew its stake in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 19.1% in the 1st quarter, HoldingsChannel reports. The firm owned 189,648 shares of the basic materials company’s stock after acquiring an additional 30,441 shares during the quarter. Bleakley Financial Group LLC’s holdings in Seabridge Gold were worth $5,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC purchased a new stake in Seabridge Gold during the fourth quarter valued at about $30,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Seabridge Gold in the fourth quarter worth approximately $30,000. Federation des caisses Desjardins du Quebec increased its position in shares of Seabridge Gold by 77.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 465 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Seabridge Gold during the fourth quarter valued at approximately $39,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Seabridge Gold by 274.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,706 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 1,250 shares during the period. Institutional investors and hedge funds own 34.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on SA. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research note on Wednesday, June 24th. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Finally, Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Seabridge Gold presently has an average rating of “Reduce” and an average price target of $65.00.

Seabridge Gold Price Performance

Shares of NYSE:SA opened at $25.85 on Wednesday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of -53.40 and a beta of 0.89. Seabridge Gold, Inc. has a 1 year low of $23.91 and a 1 year high of $33.04. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $29.17 and a 200 day simple moving average of $30.66.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued 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). As a group, sell-side analysts predict that Seabridge Gold, Inc. will post -0.17 earnings per share for the current fiscal year.

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.