Seabridge Gold (NYSE:SA) Issues Quarterly Earnings Results, Meets Estimates

Seabridge Gold (NYSE:SA) (TSE:SEA) issued its quarterly earnings data on Wednesday. The basic materials company reported ($0.04) EPS for the quarter, hitting analysts’ consensus estimates of ($0.04), Zacks reports.

Seabridge Gold Price Performance

Seabridge Gold stock opened at $31.54 on Friday. The business’s 50-day simple moving average is $30.29 and its 200 day simple moving average is $29.96. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -65.71 and a beta of 0.83. Seabridge Gold has a 12-month low of $11.12 and a 12-month high of $40.06. 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 Trading of Seabridge Gold

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC bought a new position in shares of Seabridge Gold in the 4th quarter valued at about $30,000. Federation des caisses Desjardins du Quebec raised its stake in shares of Seabridge Gold by 77.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after buying an additional 465 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Seabridge Gold by 274.1% during the fourth 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. acquired a new position in Seabridge Gold in the third quarter valued at approximately $72,000. Finally, Baird Financial Group Inc. bought a new position in Seabridge Gold in the first quarter valued at approximately $122,000. 34.85% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SA. Wall Street Zen raised shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research note on Friday, March 27th. Finally, Zacks Research lowered shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 14th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average 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.