37,500 Shares in Seabridge Gold, Inc. $SA Bought by Global Strategic Management Inc.

Global Strategic Management Inc. purchased a new position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 37,500 shares of the basic materials company’s stock, valued at approximately $1,065,000. Seabridge Gold comprises 0.7% of Global Strategic Management Inc.’s investment portfolio, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cibc World Market Inc. bought a new position in Seabridge Gold during the 2nd quarter worth $52,690,000. Ontario Teachers Pension Plan Board bought a new stake in Seabridge Gold in the second quarter valued at $45,048,000. Deutsche Bank AG acquired a new position in shares of Seabridge Gold during the second quarter valued at $12,685,000. BlackRock Inc. bought a new position in shares of Seabridge Gold during the second quarter worth about $10,480,000. Finally, Kopernik Global Investors LLC increased its holdings in shares of Seabridge Gold by 5.1% in the 1st quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock worth $207,813,000 after acquiring an additional 353,252 shares during the period. Institutional investors and hedge funds own 34.85% of the company’s stock.

Seabridge Gold Stock Performance

Shares of SA opened at $26.05 on Friday. The company has a 50-day moving average of $30.49 and a two-hundred day moving average of $29.48. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 120.57 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. Seabridge Gold, Inc. has a one year low of $23.69 and a one year high of $35.12.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SA. Zacks Research raised Seabridge Gold to a “hold” rating in a report on Tuesday, September 1st. Weiss Ratings upgraded shares of Seabridge Gold from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Wall Street Zen raised Seabridge Gold from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Royal Bank Of Canada increased their price objective on Seabridge Gold from $71.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Finally, B. Riley Financial started coverage on Seabridge Gold in a research report on Monday, August 3rd. They set a “buy” rating and a $40.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Seabridge Gold presently has an average rating of “Hold” and a consensus price target of $56.00.

About Seabridge Gold

Seabridge Gold Inc is a mineral exploration and development company focused on acquiring, evaluating and advancing large-scale gold and copper deposits. The company does not operate as a producing mining company; its activities center on exploration, technical studies, permitting and project development.

Seabridge’s flagship asset is the KSM project in northwestern British Columbia, Canada, a large gold-copper-silver-molybdenum development project. The company also holds the Iskut project in British Columbia and the Courageous Lake gold project in the Northwest Territories.