Ontario Teachers Pension Plan Board Makes New Investment in Seabridge Gold, Inc. $SA

Ontario Teachers Pension Plan Board acquired a new stake in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,747,341 shares of the basic materials company’s stock, valued at approximately $45,048,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SA. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold during the fourth quarter worth $30,000. Smartleaf Asset Management LLC purchased a new position in Seabridge Gold in the fourth quarter valued at about $30,000. Federation des caisses Desjardins du Quebec boosted its stake in Seabridge Gold by 77.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 465 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Seabridge Gold during the 4th quarter valued at approximately $39,000. Finally, CIBC Private Wealth Group LLC grew its position in shares of Seabridge Gold by 274.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,706 shares of the basic materials company’s stock valued at $50,000 after acquiring an additional 1,250 shares during the period. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Analyst Ratings Changes

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

Seabridge Gold Price Performance

SA opened at $31.06 on Wednesday. The firm has a 50-day moving average price of $27.63 and a 200-day moving average price of $30.00. Seabridge Gold, Inc. has a twelve month low of $23.69 and a twelve month high of $34.19. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -64.17 and a beta of 0.89.

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.