Analysts Anticipate Seabridge Gold Inc (NYSE:SA) Will Announce Earnings of -$0.03 Per Share

Wall Street brokerages expect Seabridge Gold Inc (NYSE:SA) (TSE:SEA) to announce ($0.03) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Seabridge Gold’s earnings, with the lowest EPS estimate coming in at ($0.05) and the highest estimate coming in at ($0.01). Seabridge Gold reported earnings per share of ($0.04) during the same quarter last year, which suggests a positive year over year growth rate of 25%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 13th.

On average, analysts expect that Seabridge Gold will report full year earnings of ($0.13) per share for the current fiscal year, with EPS estimates ranging from ($0.17) to ($0.09). For the next year, analysts anticipate that the company will post earnings of ($0.06) per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Seabridge Gold.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its earnings results on Tuesday, August 13th. The basic materials company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.01.

Several analysts have issued reports on the stock. B. Riley cut their price target on shares of Seabridge Gold from $25.40 to $25.30 and set a “buy” rating for the company in a research report on Monday. Canaccord Genuity restated a “buy” rating on shares of Seabridge Gold in a research report on Friday, July 19th. Zacks Investment Research upgraded shares of Seabridge Gold from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday. Finally, ValuEngine upgraded shares of Seabridge Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th.

NYSE SA traded up $0.06 during trading on Wednesday, hitting $12.01. 250,300 shares of the company’s stock traded hands, compared to its average volume of 411,722. The stock has a fifty day moving average of $13.35 and a two-hundred day moving average of $13.01. Seabridge Gold has a 12-month low of $10.95 and a 12-month high of $16.55. The firm has a market cap of $799.70 million, a P/E ratio of -46.19 and a beta of -0.16.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp boosted its holdings in shares of Seabridge Gold by 1.0% during the second quarter. Van ECK Associates Corp now owns 2,968,290 shares of the basic materials company’s stock worth $40,161,000 after purchasing an additional 29,522 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Seabridge Gold by 49.5% during the second quarter. Russell Investments Group Ltd. now owns 1,809,105 shares of the basic materials company’s stock worth $24,498,000 after purchasing an additional 599,107 shares during the period. FMR LLC boosted its holdings in shares of Seabridge Gold by 10.5% during the first quarter. FMR LLC now owns 1,228,210 shares of the basic materials company’s stock worth $15,266,000 after purchasing an additional 116,420 shares during the period. Morgan Stanley boosted its holdings in shares of Seabridge Gold by 27.0% during the second quarter. Morgan Stanley now owns 764,475 shares of the basic materials company’s stock worth $10,343,000 after purchasing an additional 162,305 shares during the period. Finally, Sprott Inc. boosted its holdings in shares of Seabridge Gold by 5.1% during the second quarter. Sprott Inc. now owns 571,287 shares of the basic materials company’s stock worth $8,858,000 after purchasing an additional 27,800 shares during the period. Institutional investors and hedge funds own 23.85% of the company’s stock.

Seabridge Gold Company Profile

Seabridge Gold Inc, a development stage company, together with its subsidiaries, engages in the acquisition and exploration of gold properties located in North America. The company also explores for copper and silver ores. It holds a 100% interest in various North American gold resource projects. The company's principal assets are the Kerr-Sulphurets-Mitchell and Iskut properties located near Stewart, British Columbia, Canada, as well as the Courageous Lake gold project located in Canada's Northwest Territories.

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