Seabridge Gold (NYSE:SA) Earns Buy Rating from Analysts at B. Riley Financial

Equities researchers at B. Riley Financial began coverage on shares of Seabridge Gold (NYSE:SA) (TSE:SEA) in a research report issued on Monday. The brokerage set a “buy” rating and a $40.00 price target on the basic materials company’s stock. B. Riley Financial’s price objective suggests a potential upside of 57.15% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Zacks Research lowered Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Wall Street Zen raised Seabridge Gold from a “strong sell” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings cut shares of Seabridge Gold from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $40.00.

Seabridge Gold Price Performance

Shares of SA traded down $0.36 during mid-day trading on Monday, reaching $25.45. 58,344 shares of the stock traded hands, compared to its average volume of 683,533. The firm has a fifty day moving average price of $27.88 and a 200 day moving average price of $30.21. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -52.72 and a beta of 0.89. 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 1 year low of $23.69 and a 1 year high of $33.04.

Seabridge Gold (NYSE:SA) (TSE:SEA) last issued its quarterly earnings data on Wednesday, May 13th. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). As a group, equities research analysts predict that Seabridge Gold will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Seabridge Gold

Hedge funds and other institutional investors have recently modified their holdings of the stock. Baird Financial Group Inc. bought a new position in Seabridge Gold during the 1st 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 purchasing an additional 25,769 shares during the period. Geode Capital Management LLC lifted its stake in Seabridge Gold by 9.8% in 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 grew its holdings in shares of Seabridge Gold by 11.4% during the 2nd quarter. Marshall Wace LLP now owns 541,886 shares of the basic materials company’s stock worth $7,868,000 after acquiring an additional 55,262 shares during the period. Finally, Nebula Research & Development LLC increased its stake in shares of Seabridge Gold by 36.4% in the 2nd quarter. Nebula Research & Development LLC now owns 27,657 shares of the basic materials company’s stock worth $402,000 after acquiring an additional 7,374 shares in the last quarter. Institutional investors own 34.85% of the company’s stock.

About Seabridge Gold

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.