Seabridge Gold (NYSE:SA) Research Coverage Started at B. Riley Financial

B. Riley Financial assumed coverage on shares of Seabridge Gold (NYSE:SA) (TSE:SEA) in a research report report published on Monday morning, MarketBeat.com reports. The firm issued a buy rating and a $40.00 price objective on the basic materials company’s stock.

SA has been the subject of several other research reports. Wall Street Zen raised shares of Seabridge Gold from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research downgraded shares of Seabridge Gold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 14th. Finally, Weiss Ratings lowered Seabridge Gold from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $40.00.

Seabridge Gold Stock Performance

Shares of Seabridge Gold stock opened at $29.25 on Monday. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock’s fifty day moving average price is $27.70 and its 200-day moving average price is $30.13. The firm has a market cap of $3.15 billion, a P/E ratio of -60.42 and a beta of 0.89. Seabridge Gold has a 12 month low of $23.69 and a 12 month high of $33.04.

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

Hedge Funds Weigh In On Seabridge Gold

Large investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Seabridge Gold by 1.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 22,708 shares of the basic materials company’s stock valued at $642,000 after purchasing an additional 345 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its stake in Seabridge Gold by 77.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,065 shares of the basic materials company’s stock worth $31,000 after buying an additional 465 shares during the last quarter. Signaturefd LLC grew its stake in Seabridge Gold by 20.2% during the 4th quarter. Signaturefd LLC now owns 2,992 shares of the basic materials company’s stock worth $89,000 after buying an additional 502 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Seabridge Gold by 3.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 15,064 shares of the basic materials company’s stock valued at $447,000 after buying an additional 522 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Seabridge Gold by 2.9% during the 1st quarter. SG Americas Securities LLC now owns 28,926 shares of the basic materials company’s stock valued at $820,000 after buying an additional 803 shares in the last quarter. 34.85% of the stock is currently owned by institutional investors.

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.