Eschler Asset Management LLP Lowers Stock Holdings in Seabridge Gold, Inc. $SA

Eschler Asset Management LLP reduced its stake in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 48.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,000 shares of the basic materials company’s stock after selling 17,000 shares during the quarter. Eschler Asset Management LLP’s holdings in Seabridge Gold were worth $435,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp increased its position in Seabridge Gold by 210.3% during the 3rd quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock valued at $197,514,000 after buying an additional 5,543,170 shares in the last quarter. Vanguard Group Inc. raised its stake in Seabridge Gold by 1,867.5% during the third quarter. Vanguard Group Inc. now owns 1,296,919 shares of the basic materials company’s stock valued at $31,284,000 after buying an additional 1,231,002 shares during the last quarter. Cibc World Market Inc. boosted its holdings in 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 worth $51,396,000 after acquiring an additional 302,476 shares in the last quarter. HRT Financial LP bought a new stake in Seabridge Gold in the second quarter worth $2,366,000. Finally, Elevatus Welath Management purchased a new stake in shares of Seabridge Gold in the third quarter worth $3,676,000. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Seabridge Gold Stock Down 3.7%

Seabridge Gold stock opened at $32.64 on Friday. Seabridge Gold, Inc. has a 12 month low of $9.40 and a 12 month high of $40.06. The stock has a fifty day simple moving average of $33.19 and a two-hundred day simple moving average of $27.40. The company has a current ratio of 2.99, a quick ratio of 2.99 and a debt-to-equity ratio of 0.55. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of -85.88 and a beta of 0.76.

Wall Street Analysts Forecast Growth

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

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.