Investors Buy High Volume of Seabridge Gold Call Options (NYSE:SA)

Seabridge Gold Inc. (NYSE:SA) (TSE:SEA) was the recipient of some unusual options trading on Thursday. Traders purchased 4,832 call options on the company. This is an increase of approximately 145% compared to the typical daily volume of 1,971 call options.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its stake in shares of Seabridge Gold by 3.4% during the 4th quarter. Van ECK Associates Corp now owns 3,501,796 shares of the basic materials company’s stock worth $42,477,000 after purchasing an additional 114,331 shares during the period. Kopernik Global Investors LLC increased its holdings in shares of Seabridge Gold by 16.9% during the 4th quarter. Kopernik Global Investors LLC now owns 3,189,304 shares of the basic materials company’s stock worth $38,686,000 after buying an additional 460,895 shares during the last quarter. Sprott Inc. increased its holdings in shares of Seabridge Gold by 8.0% during the 3rd quarter. Sprott Inc. now owns 1,728,334 shares of the basic materials company’s stock worth $18,457,000 after buying an additional 128,323 shares during the last quarter. Amundi increased its holdings in shares of Seabridge Gold by 33.4% during the 4th quarter. Amundi now owns 918,275 shares of the basic materials company’s stock worth $12,635,000 after buying an additional 229,902 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Seabridge Gold by 513.9% during the 4th quarter. Millennium Management LLC now owns 888,638 shares of the basic materials company’s stock worth $11,176,000 after buying an additional 743,881 shares during the last quarter. Hedge funds and other institutional investors own 34.85% of the company’s stock.

Seabridge Gold Trading Up 1.8 %

Shares of Seabridge Gold stock opened at $16.31 on Friday. Seabridge Gold has a fifty-two week low of $9.31 and a fifty-two week high of $16.70. The firm has a market cap of $1.42 billion, a PE ratio of -41.82 and a beta of 1.11. The business’s fifty day moving average is $12.85 and its two-hundred day moving average is $11.86. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.79.

Analysts Set New Price Targets

Separately, StockNews.com raised Seabridge Gold to a “sell” rating in a research note on Monday, April 1st.

About Seabridge Gold

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. Its principal projects are the Kerr-Sulphurets-Mitchell property and Iskut project located in British Columbia, Canada; Courageous Lake property situated in Northwest Territories, Canada; Snowstorm project situated in the Nevada; and 3 Aces project located in the Yukon Territory.