CIBC World Market Inc. acquired 2,043,519 shares of Seabridge Gold Inc. during the second quarter.
The investment is valued at approximately $52.69 million according to a recent SEC filing. CIBC World Market Inc. now holds a 1.90% stake in the basic materials firm.
Several other institutional investors also adjusted their positions in Seabridge Gold recently. This entry by CIBC highlights increasing institutional interest as the company advances its projects.