Seabridge Gold (NYSE:SA) Announces Quarterly Earnings Results

Seabridge Gold (NYSE:SA) (TSE:SEA) released its earnings results on Thursday. The basic materials company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.09, Zacks reports.

Seabridge Gold Stock Down 3.2%

Shares of NYSE:SA traded down $0.80 on Thursday, reaching $24.56. The company had a trading volume of 827,137 shares, compared to its average volume of 541,255. The firm has a market capitalization of $2.65 billion, a PE ratio of 119.22 and a beta of 0.84. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. Seabridge Gold has a 52-week low of $23.26 and a 52-week high of $35.12. The firm’s 50 day simple moving average is $27.78 and its 200-day simple moving average is $29.63.

Analyst Upgrades and Downgrades

Several research firms recently commented on SA. B. Riley Financial assumed coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They issued a “buy” rating and a $40.00 price target on the stock. Wall Street Zen upgraded Seabridge Gold from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Zacks Research raised Seabridge Gold to a “hold” rating in a research report on Tuesday, September 1st. Royal Bank Of Canada raised their price target on Seabridge Gold from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Finally, Weiss Ratings upgraded Seabridge Gold from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.00.

About Seabridge Gold

Seabridge Gold Inc. is a Canadian mineral exploration and development company focused on acquiring and advancing gold and copper properties. Founded in 1999, the company seeks to grow its mineral reserves through exploration and project development rather than operating producing mines. Its principal asset is the 100%-owned KSM project in northwestern British Columbia, a large gold-copper development project. Seabridge also holds interests in exploration and development properties including Iskut in British Columbia, Courageous Lake in the Northwest Territories and Snowstorm in Nevada.