Clear Street Group Inc. Makes New Investment in Seabridge Gold, Inc. $SA

Clear Street Group Inc. purchased a new position in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 875,000 shares of the basic materials company’s stock, valued at approximately $25,891,000. Clear Street Group Inc. owned 0.82% of Seabridge Gold as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SA. Van ECK Associates Corp lifted its stake in Seabridge Gold by 210.3% during the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock worth $197,514,000 after purchasing an additional 5,543,170 shares during the period. Vanguard Group Inc. lifted 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 worth $31,284,000 after purchasing an additional 1,231,002 shares during the period. Tidal Investments LLC lifted its stake in Seabridge Gold by 12.4% during the third quarter. Tidal Investments LLC now owns 3,071,781 shares of the basic materials company’s stock worth $74,184,000 after purchasing an additional 339,913 shares during the period. TD Asset Management Inc lifted its stake in Seabridge Gold by 109.1% during the fourth quarter. TD Asset Management Inc now owns 539,446 shares of the basic materials company’s stock worth $16,013,000 after purchasing an additional 281,512 shares during the period. Finally, Bank of America Corp DE lifted its stake in Seabridge Gold by 65.8% during the third quarter. Bank of America Corp DE now owns 513,534 shares of the basic materials company’s stock worth $12,402,000 after purchasing an additional 203,885 shares during the period. Institutional investors own 34.85% of the company’s stock.

Seabridge Gold Stock Performance

NYSE:SA opened at $28.13 on Friday. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.03 billion, a P/E ratio of -58.11 and a beta of 0.89. The firm has a 50 day moving average of $30.64 and a 200-day moving average of $30.92. Seabridge Gold, Inc. has a 1 year low of $24.73 and a 1 year high of $30.82.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its quarterly earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). As a group, sell-side analysts anticipate that Seabridge Gold, Inc. will post -0.17 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wall Street Zen upgraded shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research note on Friday, March 27th. Finally, Zacks Research cut shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price 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.