Empowered Funds LLC Makes New $1.85 Million Investment in Seabridge Gold, Inc. $SA

Empowered Funds LLC bought a new stake in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 71,956 shares of the basic materials company’s stock, valued at approximately $1,852,000.

Other institutional investors have also recently made changes to their positions in the company. Cibc World Market Inc. bought a new position in shares of Seabridge Gold during the 2nd quarter worth $52,690,000. Ontario Teachers Pension Plan Board bought a new stake in Seabridge Gold in the 2nd quarter valued at about $45,048,000. Vanguard Group Inc. lifted its holdings 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 purchasing an additional 1,231,002 shares during the last quarter. Clear Street Group Inc. purchased a new stake in Seabridge Gold during the fourth quarter valued at about $25,891,000. Finally, Deutsche Bank AG bought a new position in Seabridge Gold during the second quarter worth about $12,685,000. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Seabridge Gold Stock Up 4.9%

SA stock opened at $32.64 on Friday. The stock has a 50-day simple moving average of $28.68 and a two-hundred day simple moving average of $30.13. Seabridge Gold, Inc. has a twelve month low of $23.69 and a twelve month high of $35.12. The firm has a market capitalization of $3.52 billion and a PE ratio of -67.44. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Weiss Ratings raised shares of Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded shares of Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Zacks Research raised shares of Seabridge Gold to a “hold” rating in a report on Tuesday. Finally, B. Riley Financial assumed coverage on Seabridge Gold in a report on Monday, August 3rd. They issued a “buy” rating and a $40.00 price target for the company. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Seabridge Gold currently has a consensus rating of “Hold” and a consensus target price of $40.00.

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.