Seabridge Gold (NYSE:SA) Announces Earnings Results

Seabridge Gold (NYSE:SA) (TSE:SEA) released its quarterly earnings data on Wednesday. The basic materials company reported $999.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $999.04, reports.

Seabridge Gold Stock Performance

Shares of NYSE SA traded down $1.03 during trading on Thursday, reaching $32.23. 862,044 shares of the company traded hands, compared to its average volume of 1,086,581. The firm has a 50 day simple moving average of $30.37 and a 200-day simple moving average of $29.90. Seabridge Gold has a 52-week low of $11.12 and a 52-week high of $40.06. The stock has a market capitalization of $3.47 billion, a PE ratio of -89.38 and a beta of 0.83. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.53.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC bought a new stake in Seabridge Gold in the 4th quarter worth approximately $30,000. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Seabridge Gold by 77.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock valued at $31,000 after buying an additional 465 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Seabridge Gold by 274.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,706 shares of the basic materials company’s stock worth $50,000 after buying an additional 1,250 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Seabridge Gold in the 3rd quarter worth $72,000. Finally, Baird Financial Group Inc. bought a new stake in shares of Seabridge Gold in the first quarter worth $122,000. Institutional investors own 34.85% of the company’s stock.

Wall Street Analysts Forecast Growth

SA has been the topic of a number of recent analyst reports. Zacks Research cut shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Seabridge Gold in a research report on Friday, March 27th. Finally, Wall Street Zen upgraded Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $65.00.

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. The company was formerly known as Seabridge Resources Inc and changed its name to Seabridge Gold Inc in June 2002. Seabridge Gold Inc was incorporated in 1979 and is based in Toronto, Canada.