Assenagon Asset Management S.A. Purchases New Shares in Seabridge Gold, Inc. $SA

Assenagon Asset Management S.A. acquired a new position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) during the first quarter, HoldingsChannel reports. The institutional investor acquired 139,015 shares of the basic materials company’s stock, valued at approximately $3,940,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. SG Americas Securities LLC grew its stake in shares of Seabridge Gold by 2.9% in the 1st quarter. SG Americas Securities LLC now owns 28,926 shares of the basic materials company’s stock worth $820,000 after buying an additional 803 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in Seabridge Gold by 7,567.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 53,673 shares of the basic materials company’s stock valued at $1,588,000 after buying an additional 52,973 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Seabridge Gold during the fourth quarter valued at $167,000. Virtu Financial LLC purchased a new position in Seabridge Gold during the fourth quarter valued at $431,000. Finally, TMB Capital Partners LLC bought a new stake in Seabridge Gold in the fourth quarter worth $1,366,000. Institutional investors own 34.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wall Street Zen raised shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research cut shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $65.00.

Seabridge Gold Stock Performance

Shares of NYSE SA opened at $25.36 on Tuesday. Seabridge Gold, Inc. has a 12-month low of $23.91 and a 12-month high of $33.04. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -52.40 and a beta of 0.89. 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 firm has a 50 day moving average of $29.99 and a 200 day moving average of $30.94.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share for the quarter, hitting the consensus estimate of ($0.04). On average, research analysts anticipate that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

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.