Seabridge Gold Target of Unusually High Options Trading (NYSE:SA)

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

Hedge Funds Weigh In On Seabridge Gold

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Seabridge Gold by 17.9% in the first quarter. JPMorgan Chase & Co. now owns 163,874 shares of the basic materials company’s stock valued at $3,032,000 after acquiring an additional 24,880 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Seabridge Gold by 5.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,162 shares of the basic materials company’s stock valued at $447,000 after acquiring an additional 1,175 shares in the last quarter. Citigroup Inc. boosted its stake in Seabridge Gold by 56.9% in the first quarter. Citigroup Inc. now owns 15,194 shares of the basic materials company’s stock valued at $281,000 after acquiring an additional 5,512 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in Seabridge Gold by 64.0% in the first quarter. Great West Life Assurance Co. Can now owns 3,836 shares of the basic materials company’s stock valued at $75,000 after acquiring an additional 1,497 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in Seabridge Gold by 75.9% in the first quarter. Cibc World Market Inc. now owns 47,146 shares of the basic materials company’s stock valued at $872,000 after acquiring an additional 20,338 shares in the last quarter. 34.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Seabridge Gold Stock Down 5.2 %

NYSE SA opened at $15.47 on Friday. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average price is $12.95 and its 200-day moving average price is $11.89. Seabridge Gold has a 52-week low of $9.31 and a 52-week high of $16.71.

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. 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.