Van ECK Associates Corp Sells 29,263 Shares of Seabridge Gold, Inc. $SA

Van ECK Associates Corp lessened its position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 0.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,506,567 shares of the basic materials company’s stock after selling 29,263 shares during the period. Van ECK Associates Corp owned about 6.05% of Seabridge Gold worth $167,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SA. Strait & Sound Wealth Management LLC increased its holdings in shares of Seabridge Gold by 1.8% in the second quarter. Strait & Sound Wealth Management LLC now owns 130,327 shares of the basic materials company’s stock valued at $3,355,000 after purchasing an additional 2,283 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Seabridge Gold during the 2nd quarter worth about $1,852,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Seabridge Gold by 5.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 23,871 shares of the basic materials company’s stock worth $616,000 after buying an additional 1,163 shares during the period. Caisse de depot et placement du Quebec acquired a new position in Seabridge Gold in the 2nd quarter valued at about $2,266,000. Finally, Legal & General Group Plc acquired a new position in Seabridge Gold in the 2nd quarter valued at about $2,158,000.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings raised Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 18th. Finally, B. Riley Financial initiated coverage on Seabridge Gold in a report on Monday, August 3rd. They issued a “buy” rating and a $40.00 price objective on the stock. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $40.00.

Seabridge Gold Price Performance

NYSE SA opened at $32.46 on Friday. The firm has a 50-day moving average price of $28.31 and a two-hundred day moving average price of $30.20. Seabridge Gold, Inc. has a 12-month low of $23.69 and a 12-month high of $35.12.

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.