Renaissance Technologies LLC Invests $8.24 Million in Seabridge Gold, Inc. $SA

Renaissance Technologies LLC purchased a new position in shares of Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 290,700 shares of the basic materials company’s stock, valued at approximately $8,238,000. Renaissance Technologies LLC owned about 0.27% of Seabridge Gold at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. bought a new position in Seabridge Gold during the fourth quarter worth about $30,000. Smartleaf Asset Management LLC bought a new stake in shares of Seabridge Gold in the fourth quarter valued at approximately $30,000. Federation des caisses Desjardins du Quebec grew its position in Seabridge Gold by 77.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after buying an additional 465 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Seabridge Gold during the 4th quarter worth $39,000. Finally, CIBC Private Wealth Group LLC increased its stake in Seabridge Gold by 274.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,706 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 1,250 shares during the period. 34.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SA shares. Zacks Research cut 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 report on Thursday, July 16th. B. Riley Financial began coverage on Seabridge Gold in a research report on Monday. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Wall Street Zen raised Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $40.00.

Seabridge Gold Stock Up 2.6%

NYSE SA opened at $26.49 on Tuesday. The business has a fifty day moving average price of $27.81 and a two-hundred day moving average price of $30.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. Seabridge Gold, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $33.04. The stock has a market capitalization of $2.85 billion, a PE ratio of -54.73 and a beta of 0.89.

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

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.