Weiss Asset Management LP Sells 145,850 Shares of Seabridge Gold Inc (NYSE:SA)
Weiss Asset Management LP lowered its stake in shares of Seabridge Gold Inc (NYSE:SA) (TSE:SEA) by 13.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 971,734 shares of the basic materials company’s stock after selling 145,850 shares during the quarter. Seabridge Gold accounts for 0.8% of Weiss Asset Management LP’s investment portfolio, making the stock its 21st largest holding. Weiss Asset Management LP owned 1.57% of Seabridge Gold worth $13,143,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in the stock. Aperio Group LLC purchased a new position in Seabridge Gold in the second quarter worth $114,000. Marshall Wace LLP boosted its position in Seabridge Gold by 42,300.0% in the first quarter. Marshall Wace LLP now owns 9,328 shares of the basic materials company’s stock worth $116,000 after purchasing an additional 9,306 shares during the last quarter. Good Life Advisors LLC purchased a new position in shares of Seabridge Gold during the 1st quarter valued at $142,000. Confluence Investment Management LLC lifted its position in shares of Seabridge Gold by 6.5% during the 2nd quarter. Confluence Investment Management LLC now owns 12,984 shares of the basic materials company’s stock valued at $176,000 after buying an additional 795 shares during the last quarter. Finally, Cetera Advisor Networks LLC purchased a new position in shares of Seabridge Gold during the 1st quarter valued at $217,000. Institutional investors and hedge funds own 23.88% of the company’s stock.
Shares of NYSE SA traded up $0.46 during trading on Monday, reaching $13.81. 498,440 shares of the stock traded hands, compared to its average volume of 541,039. Seabridge Gold Inc has a 52-week low of $10.60 and a 52-week high of $16.55. The company has a 50-day moving average of $14.56 and a 200-day moving average of $13.13. The stock has a market capitalization of $843.05 million, a P/E ratio of -53.12 and a beta of -0.02.
A number of brokerages have recently commented on SA. Zacks Investment Research raised Seabridge Gold from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. B. Riley upped their price target on Seabridge Gold from $24.60 to $25.40 and gave the company a “buy” rating in a research report on Monday, September 9th. ValuEngine cut Seabridge Gold from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Seabridge Gold in a research report on Friday, July 19th.
About Seabridge Gold
Seabridge Gold Inc, a development stage company, together with its subsidiaries, engages in the acquisition and exploration of gold properties located in North America. The company also explores for copper and silver ores. It holds a 100% interest in various North American gold resource projects. The company's principal assets are the Kerr-Sulphurets-Mitchell and Iskut properties located near Stewart, British Columbia, Canada, as well as the Courageous Lake gold project located in Canada's Northwest Territories.
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