The Manufacturers Life Insurance Company Takes $2.30 Million Position in Seabridge Gold, Inc. $SA

The Manufacturers Life Insurance Company bought a new position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 89,153 shares of the basic materials company’s stock, valued at approximately $2,296,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Gravity Asset Management Inc. acquired a new position in Seabridge Gold during the fourth quarter valued at $30,000. Smartleaf Asset Management LLC acquired a new stake in Seabridge Gold during the 4th quarter worth about $30,000. Federation des caisses Desjardins du Quebec grew its stake in Seabridge Gold by 77.5% during the 4th 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 in the last quarter. Banque Cantonale Vaudoise purchased a new position in Seabridge Gold during the 4th quarter valued at about $39,000. Finally, Allworth Financial LP purchased a new position in Seabridge Gold during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Analyst Ratings Changes

SA has been the subject of a number of research analyst reports. B. Riley Financial began coverage on shares of Seabridge Gold in a research report on Monday, August 3rd. They issued a “buy” rating and a $40.00 price target for the company. Weiss Ratings upgraded shares of Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 18th. Finally, Wall Street Zen upgraded shares of Seabridge Gold from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Seabridge Gold currently has an average rating of “Reduce” and a consensus target price of $40.00.

Seabridge Gold Stock Performance

Shares of NYSE SA opened at $31.11 on Thursday. 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. The business’s 50-day moving average price is $28.54 and its two-hundred day moving average price is $30.14. The company has a market capitalization of $3.36 billion and a P/E ratio of -64.28.

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.