Legal & General Group Plc Purchases New Shares in Seabridge Gold, Inc. $SA

Legal & General Group Plc acquired a new stake in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) during the 2nd quarter, HoldingsChannel reports. The firm acquired 83,641 shares of the basic materials company’s stock, valued at approximately $2,158,000.

A number of other hedge funds have also recently bought and sold shares of SA. Baird Financial Group Inc. bought a new stake in shares of Seabridge Gold in the 1st quarter worth $122,000. Royal Bank of Canada raised its holdings in shares of Seabridge Gold by 125.3% in the first quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock valued at $541,000 after purchasing an additional 25,769 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Seabridge Gold by 9.8% during the second quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 3,982 shares in the last quarter. Marshall Wace LLP boosted its holdings in Seabridge Gold by 11.4% during the second quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock worth $7,868,000 after purchasing an additional 55,262 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its holdings in Seabridge Gold by 36.4% during the second quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company’s stock worth $402,000 after purchasing an additional 7,374 shares during the last quarter. 34.85% of the stock is owned by hedge funds and other institutional investors.

Seabridge Gold Stock Performance

Shares of SA stock opened at $31.80 on Friday. The firm has a market cap of $3.43 billion and a price-to-earnings ratio of -65.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71. Seabridge Gold, Inc. has a 52 week low of $23.69 and a 52 week high of $35.12. The firm’s 50-day simple moving average is $28.80 and its two-hundred day simple moving average is $30.15.

Analyst Upgrades and Downgrades

Several research firms have commented on SA. 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 Seabridge Gold to a “hold” rating in a report on Tuesday, September 1st. Weiss Ratings raised Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. Finally, B. Riley Financial started coverage on Seabridge Gold in a report on Monday, August 3rd. They set a “buy” rating and a $40.00 price target on the stock. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Seabridge Gold has an average rating of “Hold” and a consensus price target 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.