Weiss Asset Management LP Increases Stake in Seabridge Gold INC (SA)

October 13, 2018 - By Peter Kolinski

Seabridge Gold Inc. (NYSE:SA) Logo

Weiss Asset Management Lp increased its stake in Seabridge Gold Inc (SA) by 377.75% based on its latest 2018Q2 regulatory filing with the SEC. Weiss Asset Management Lp bought 755,500 shares as the company’s stock rose 1.83% with the market. The hedge fund held 955,500 shares of the basic industries company at the end of 2018Q2, valued at $10.76M, up from 200,000 at the end of the previous reported quarter. Weiss Asset Management Lp who had been investing in Seabridge Gold Inc for a number of months, seems to be bullish on the $867.78M market cap company. The stock increased 3.35% or $0.47 during the last trading session, reaching $14.5. About 1.11M shares traded or 179.76% up from the average. Seabridge Gold Inc. (NYSE:SA) has declined 5.93% since October 13, 2017 and is downtrending. It has underperformed by 21.55% the S&P500.

Weiss Asset Management Lp, which manages about $1.80 billion and $1.01B US Long portfolio, decreased its stake in Sprott Physical Gold & Silve by 8.76M shares to 805,677 shares, valued at $10.10M in 2018Q2, according to the filing. It also reduced its holding in Union Acquisition Corp by 1.07M shares in the quarter, leaving it with 266,250 shares, and cut its stake in Bison Cap Acquisition Corp.

Another recent and important Seabridge Gold Inc. (NYSE:SA) news was published by Fool.com which published an article titled: “Why Seabridge Gold, Inc.’s Stock Is Surging Today” on September 24, 2018.

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