Seabridge Gold (NYSE:SA) Now Covered by B. Riley Financial

Key Points

• B. Riley Financial initiated coverage of Seabridge Gold with a “buy” rating and a $40 price target, implying 56.48% upside from the prior close.
• Analyst sentiment remains mixed: one analyst rates the stock a Buy while two rate it Sell, producing a consensus “Reduce” rating and a $40 consensus price target.
• Seabridge shares traded at $25.56, near the lower end of their 52-week range, while the company reported quarterly EPS of negative $0.04, in line with estimates.

Research analysts at B. Riley Financial assumed coverage on shares of Seabridge Gold (NYSE:SA - Get Free Report) 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 target price would indicate a potential upside of 56.48% from the company's previous close.

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

Seabridge Gold Stock Performance

Shares of SA stock traded down $0.25 during trading hours on Monday, reaching $25.56. 58,344 shares of the company's stock were exchanged, compared to its average volume of 683,533. The company's 50 day moving average is $27.88 and its two-hundred day moving average is $30.21. Seabridge Gold has a 1 year low of $23.69 and a 1 year high of $33.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.71 and a quick ratio of 6.71. The company has a market cap of $2.75 billion, a P/E ratio of -52.72 and a beta of 0.89.

Seabridge Gold (NYSE:SA - Get Free Report) 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, meeting the consensus estimate of ($0.04). Equities research analysts anticipate that Seabridge Gold will post -0.17 EPS for the current fiscal year.

Institutional Trading of Seabridge Gold

Several institutional investors and hedge funds have recently modified their holdings of the stock. Financial Gravity Asset Management Inc. purchased a new position in Seabridge Gold during the fourth quarter worth about $30,000. Smartleaf Asset Management LLC bought a new position in Seabridge Gold in the 4th quarter worth about $30,000. Federation des caisses Desjardins du Quebec grew its holdings 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 valued at $31,000 after buying an additional 465 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Seabridge Gold during the fourth quarter valued at about $39,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Seabridge Gold by 274.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,706 shares of the basic materials company's stock valued at $50,000 after buying an additional 1,250 shares during the period. 34.85% of the stock is owned by hedge funds and other 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.

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