Russell Investments Group Ltd. Sells 208,671 Shares of Seabridge Gold, Inc. $SA

Russell Investments Group Ltd. decreased its position in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 17.5% in the second quarter, HoldingsChannel reports. The firm owned 984,169 shares of the basic materials company’s stock after selling 208,671 shares during the quarter. Russell Investments Group Ltd.’s holdings in Seabridge Gold were worth $14,275,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Seabridge Gold by 13.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,951 shares of the basic materials company’s stock valued at $290,000 after buying an additional 3,044 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Seabridge Gold during the 1st quarter valued at approximately $26,000. XTX Topco Ltd purchased a new position in shares of Seabridge Gold in the first quarter valued at $257,000. Ontario Teachers Pension Plan Board grew its holdings in shares of Seabridge Gold by 36.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 1,344,887 shares of the basic materials company’s stock valued at $15,657,000 after purchasing an additional 360,183 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Seabridge Gold by 50.0% during the first quarter. Deutsche Bank AG now owns 403,287 shares of the basic materials company’s stock valued at $4,706,000 after purchasing an additional 134,502 shares in the last quarter. 34.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SA. Zacks Research lowered shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Seabridge Gold in a research report on Wednesday, November 26th. Finally, Wall Street Zen downgraded Seabridge Gold from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has an average rating of “Sell”.

Seabridge Gold Stock Performance

Shares of NYSE:SA opened at $28.24 on Tuesday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.57. Seabridge Gold, Inc. has a 12 month low of $9.40 and a 12 month high of $29.31. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -74.31 and a beta of 0.77. The firm’s 50-day moving average is $24.37 and its 200 day moving average is $18.72.

Seabridge Gold (NYSE:SA) (TSE:SEA) last announced its earnings results on Wednesday, November 12th. The basic materials company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.20).

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.