Seabridge Gold (NYSE:SA) Announces Quarterly Earnings Results

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

Seabridge Gold Stock Down 3.2%

NYSE SA traded down $0.80 during trading on Thursday, reaching $24.56. 827,137 shares of the company’s stock were exchanged, compared to its average volume of 541,255. The company has a 50 day moving average price of $27.78 and a two-hundred day moving average price of $29.63. Seabridge Gold has a 1 year low of $23.26 and a 1 year high of $35.12. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71. The stock has a market cap of $2.65 billion, a P/E ratio of 120.76 and a beta of 0.84.

Wall Street Analysts Forecast Growth

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