Millennium Management LLC bought a new stake in Seabridge Gold Inc (NYSE:SA) (TSE:SEA) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 56,739 shares of the basic materials company’s stock, valued at approximately $613,000. Millennium Management LLC owned approximately 0.10% of Seabridge Gold at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Seabridge Gold by 2.9% in the first quarter. BlackRock Inc. now owns 197,887 shares of the basic materials company’s stock valued at $2,137,000 after purchasing an additional 5,509 shares in the last quarter. UBS Group AG raised its stake in shares of Seabridge Gold by 9.0% in the first quarter. UBS Group AG now owns 438,379 shares of the basic materials company’s stock valued at $4,735,000 after purchasing an additional 36,315 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Seabridge Gold by 16.0% in the first quarter. Russell Investments Group Ltd. now owns 1,676,545 shares of the basic materials company’s stock valued at $18,185,000 after purchasing an additional 230,772 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Seabridge Gold in the first quarter valued at $233,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Seabridge Gold in the fourth quarter valued at $141,000. Institutional investors and hedge funds own 24.86% of the company’s stock.
Seabridge Gold stock opened at $12.20 on Monday. Seabridge Gold Inc has a 52-week low of $9.80 and a 52-week high of $13.70. The firm has a market cap of $674.44 million, a price-to-earnings ratio of -87.14 and a beta of -0.32.
A number of brokerages recently commented on SA. ValuEngine upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Roth Capital restated a “buy” rating on shares of Seabridge Gold in a research note on Friday, July 13th.
Seabridge Gold Company Profile
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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