Elevatus Welath Management Buys Shares of 152,199 Seabridge Gold, Inc. $SA

Elevatus Welath Management bought a new position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 152,199 shares of the basic materials company’s stock, valued at approximately $3,676,000.

Several other hedge funds also recently modified their holdings of the business. Mackenzie Financial Corp raised its holdings in shares of Seabridge Gold by 17.3% during the 3rd quarter. Mackenzie Financial Corp now owns 54,699 shares of the basic materials company’s stock valued at $1,319,000 after purchasing an additional 8,061 shares in the last quarter. Van ECK Associates Corp increased its position in Seabridge Gold by 210.3% during the third quarter. Van ECK Associates Corp now owns 8,178,662 shares of the basic materials company’s stock worth $197,514,000 after buying an additional 5,543,170 shares during the last quarter. Legal & General Group Plc increased its position in Seabridge Gold by 7.0% during the third quarter. Legal & General Group Plc now owns 80,351 shares of the basic materials company’s stock worth $1,939,000 after buying an additional 5,229 shares during the last quarter. Swiss National Bank raised its holdings in Seabridge Gold by 1.9% during the third quarter. Swiss National Bank now owns 157,200 shares of the basic materials company’s stock valued at $3,794,000 after buying an additional 3,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Seabridge Gold by 26.0% in the third quarter. Dimensional Fund Advisors LP now owns 547,132 shares of the basic materials company’s stock worth $13,211,000 after buying an additional 112,797 shares during the last quarter. Institutional investors and hedge funds own 34.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research raised Seabridge Gold from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. B. Riley Financial upped their target price on Seabridge Gold from $50.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, December 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Seabridge Gold from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.00.

Seabridge Gold Stock Performance

SA opened at $33.82 on Thursday. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $33.13 and its two-hundred day moving average price is $27.37. The firm has a market capitalization of $3.63 billion, a P/E ratio of -89.00 and a beta of 0.76. Seabridge Gold, Inc. has a 12-month low of $9.40 and a 12-month high of $40.06.

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.