Renaissance Technologies LLC Acquires New Holdings in Seabridge Gold, Inc. $SA

Renaissance Technologies LLC bought a new stake in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) during the first quarter, Holdings Channel.com reports. The firm bought 290,700 shares of the basic materials company’s stock, valued at approximately $8,238,000.

Several other institutional investors also recently modified their holdings of SA. Public Employees Retirement System of Ohio boosted its holdings in shares of Seabridge Gold by 1.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 22,708 shares of the basic materials company’s stock valued at $642,000 after acquiring an additional 345 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Seabridge Gold by 5.7% during the first quarter. Cetera Investment Advisers now owns 24,803 shares of the basic materials company’s stock valued at $703,000 after purchasing an additional 1,333 shares in the last quarter. Kopernik Global Investors LLC boosted its stake in shares of Seabridge Gold by 5.1% during the first quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock valued at $207,813,000 after purchasing an additional 353,252 shares in the last quarter. Swiss National Bank grew its holdings in shares of Seabridge Gold by 2.7% during the first quarter. Swiss National Bank now owns 166,200 shares of the basic materials company’s stock worth $4,706,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Independent Financial Group LLC acquired a new position in shares of Seabridge Gold in the first quarter valued at approximately $204,000. 34.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SA shares. Zacks Research lowered shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Weiss Ratings lowered Seabridge Gold from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 16th. B. Riley Financial initiated coverage on Seabridge Gold in a research report on Monday. They set a “buy” rating and a $40.00 price objective for the company. Finally, Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Seabridge Gold presently has an average rating of “Reduce” and a consensus price target of $40.00.

Seabridge Gold Stock Performance

SA stock opened at $26.49 on Tuesday. The firm has a market cap of $2.85 billion, a PE ratio of -54.73 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 stock has a 50-day moving average price of $27.81 and a 200-day moving average price of $30.18. Seabridge Gold, Inc. has a 1-year low of $23.69 and a 1-year high of $33.04.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its earnings results on Wednesday, May 13th. The basic materials company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). As a group, equities research analysts expect that Seabridge Gold, Inc. will post -0.17 earnings per share for the current year.

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.