Elevatus Welath Management Sells 46,337 Shares of Seabridge Gold, Inc. $SA

Elevatus Welath Management reduced its stake in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 30.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,862 shares of the basic materials company’s stock after selling 46,337 shares during the quarter. Elevatus Welath Management’s holdings in Seabridge Gold were worth $3,132,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SA. Total Investment Management Inc. acquired a new position in Seabridge Gold in the second quarter valued at about $28,000. Caitlin John LLC bought a new stake in Seabridge Gold during the third quarter worth about $31,000. Blue Trust Inc. grew its stake in Seabridge Gold by 974.0% during the third quarter. Blue Trust Inc. now owns 1,654 shares of the basic materials company’s stock worth $40,000 after buying an additional 1,500 shares in the last quarter. MassMutual Private Wealth & Trust FSB acquired a new stake in Seabridge Gold during the fourth quarter worth about $58,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in Seabridge Gold in the 3rd quarter valued at about $72,000. Institutional investors own 34.85% of the company’s stock.

Seabridge Gold Stock Performance

NYSE:SA opened at $25.82 on Friday. The stock’s 50-day simple moving average is $32.32 and its 200 day simple moving average is $28.16. The firm has a market capitalization of $2.77 billion, a PE ratio of -67.95 and a beta of 0.76. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.55. Seabridge Gold, Inc. has a twelve month low of $9.40 and a twelve month high of $40.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SA shares. B. Riley Financial boosted their target price on shares of Seabridge Gold from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, December 2nd. Zacks Research raised shares of Seabridge Gold from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $65.00.

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.