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

Seabridge Gold (NYSE:SA) (TSE:SEA) announced its quarterly earnings data on Wednesday. The basic materials company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04), Zacks reports.

Seabridge Gold Stock Performance

Seabridge Gold stock traded down $2.40 during midday trading on Friday, reaching $29.16. 378,134 shares of the company’s stock were exchanged, compared to its average volume of 1,085,329. The company has a debt-to-equity ratio of 0.53, a quick ratio of 5.24 and a current ratio of 5.24. The stock’s 50-day simple moving average is $30.29 and its 200 day simple moving average is $29.96. Seabridge Gold has a 52 week low of $11.14 and a 52 week high of $40.06. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of -60.80 and a beta of 0.83.

Wall Street Analyst Weigh In

SA has been the subject of several analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Seabridge Gold in a research note on Friday, March 27th. 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. Finally, Zacks Research cut shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $65.00.

Institutional Investors Weigh In On Seabridge Gold

A number of institutional investors have recently made changes to their positions in SA. Baird Financial Group Inc. bought a new stake in shares of Seabridge Gold during the first quarter worth approximately $122,000. Royal Bank of Canada boosted its holdings in shares of Seabridge Gold by 125.3% during the first quarter. Royal Bank of Canada now owns 46,327 shares of the basic materials company’s stock worth $541,000 after acquiring an additional 25,769 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Seabridge Gold by 9.8% during the second quarter. Geode Capital Management LLC now owns 44,686 shares of the basic materials company’s stock worth $652,000 after acquiring an additional 3,982 shares during the period. Marshall Wace LLP boosted its position in shares of Seabridge Gold by 11.4% in the second quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock valued at $7,868,000 after acquiring an additional 55,262 shares during the period. Finally, Nebula Research & Development LLC boosted its position in shares of Seabridge Gold by 36.4% in the second quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company’s stock valued at $402,000 after acquiring an additional 7,374 shares during the period. Institutional investors own 34.85% of the company’s stock.

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.