Seabridge Gold (NYSE:SA) Issues Quarterly Earnings Results

Key Points

• Seabridge Gold reported a quarterly earnings per share (EPS) of $0.09 and its stock decreased by 0.7% to $16.69 following the announcement.
• The company has a market cap of $1.70 billion and is experiencing significant institutional interest, with 34.85% of its shares owned by institutional investors.
• Seabridge Gold's shares have fluctuated between a 12-month low of $9.40 and a high of $20.55.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA posted its quarterly earnings results on Wednesday. The basic materials company reported $0.09 earnings per share for the quarter, Zacks reports.

Seabridge Gold Stock Performance

Shares of NYSE SA traded up $0.15 during midday trading on Monday, hitting $16.86. 390,648 shares of the company's stock were exchanged, compared to its average volume of 826,394. The company has a quick ratio of 9.53, a current ratio of 9.53 and a debt-to-equity ratio of 0.56. Seabridge Gold has a 12 month low of $9.40 and a 12 month high of $20.55. The company's 50 day moving average price is $15.49 and its 200 day moving average price is $13.18. The firm has a market capitalization of $1.72 billion, a PE ratio of -44.36 and a beta of 0.64.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Seabridge Gold from a "hold" rating to a "sell" rating in a research note on Saturday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. boosted its stake in Seabridge Gold by 121.4% in the 2nd quarter. Sei Investments Co. now owns 251,705 shares of the basic materials company's stock valued at $3,655,000 after purchasing an additional 138,012 shares during the period. HRT Financial LP bought a new stake in Seabridge Gold in the 2nd quarter valued at $2,366,000. Balyasny Asset Management L.P. boosted its stake in Seabridge Gold by 96.7% in the 2nd quarter. Balyasny Asset Management L.P. now owns 121,570 shares of the basic materials company's stock valued at $1,765,000 after purchasing an additional 59,779 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Seabridge Gold by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 89,023 shares of the basic materials company's stock valued at $1,288,000 after purchasing an additional 3,434 shares during the period. Finally, PDT Partners LLC boosted its stake in Seabridge Gold by 16.5% in the 2nd quarter. PDT Partners LLC now owns 82,109 shares of the basic materials company's stock valued at $1,192,000 after purchasing an additional 11,636 shares during the period. 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.