Van ECK Associates Corp Has $167.47 Million Stake in Seabridge Gold, Inc. $SA

Van ECK Associates Corp reduced its position in Seabridge Gold, Inc. (NYSE:SA) (TSE:SEA) by 0.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,506,567 shares of the basic materials company’s stock after selling 29,263 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Seabridge Gold worth $167,468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC bought a new position in Seabridge Gold in the fourth quarter valued at approximately $30,000. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold during the fourth quarter worth $30,000. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Seabridge Gold by 77.5% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 465 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Seabridge Gold in the 4th quarter valued at $39,000. Finally, Allworth Financial LP acquired a new stake in shares of Seabridge Gold in the 2nd quarter valued at $39,000.

Seabridge Gold Stock Down 4.7%

NYSE SA opened at $32.46 on Friday. The firm’s fifty day moving average price is $28.31 and its two-hundred day moving average price is $30.20. Seabridge Gold, Inc. has a fifty-two week low of $23.69 and a fifty-two week high of $35.12.

Wall Street Analysts Forecast Growth

SA has been the subject of several recent analyst reports. Weiss Ratings upgraded Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a research report on Tuesday, August 18th. Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, B. Riley Financial initiated coverage on Seabridge Gold in a research note on Monday, August 3rd. They set a “buy” rating and a $40.00 target price for the company. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $40.00.

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.