Seabridge Gold, Inc. $SA Shares Sold by NewEdge Advisors LLC

NewEdge Advisors LLC cut its holdings in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 22.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 70,077 shares of the basic materials company’s stock after selling 20,210 shares during the quarter. NewEdge Advisors LLC’s holdings in Seabridge Gold were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Financial Gravity Asset Management Inc. purchased a new stake in shares of Seabridge Gold in the 4th quarter valued at $30,000. Smartleaf Asset Management LLC acquired a new stake in shares of Seabridge Gold in the fourth quarter worth $30,000. Federation des caisses Desjardins du Quebec raised its holdings in shares of Seabridge Gold by 77.5% during 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 purchasing an additional 465 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Seabridge Gold during the fourth quarter worth $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 worth $50,000 after purchasing an additional 1,250 shares during the last quarter. 34.85% of the stock is currently owned by institutional investors and hedge funds.

Seabridge Gold Trading Up 3.9%

Shares of NYSE:SA opened at $33.44 on Friday. Seabridge Gold, Inc. has a 12-month low of $23.69 and a 12-month high of $34.19. The company has a market capitalization of $3.60 billion, a PE ratio of -69.09 and a beta of 0.89. The business has a 50 day moving average of $27.47 and a two-hundred day moving average of $30.07. 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 (NYSE:SA) (TSE:SEA) last released its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). As a group, analysts forecast that Seabridge Gold, Inc. will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SA shares. B. Riley Financial began coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They issued a “buy” rating and a $40.00 price target on the stock. Weiss Ratings raised Seabridge Gold from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $40.00.

Seabridge Gold 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.