Seabridge Gold (NYSE:SA) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Seabridge Gold (NYSE:SA) (TSE:SEA) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set an “outperform” rating on the basic materials company’s stock.

Separately, StockNews.com assumed coverage on shares of Seabridge Gold in a report on Friday, August 18th. They set a “sell” rating for the company.

Seabridge Gold Price Performance

Seabridge Gold stock traded down $0.16 during mid-day trading on Monday, hitting $11.11. 162,965 shares of the company were exchanged, compared to its average volume of 328,343. Seabridge Gold has a 12-month low of $10.03 and a 12-month high of $16.18. The company has a market capitalization of $924.24 million, a P/E ratio of -57.10 and a beta of 0.88. The business’s 50 day simple moving average is $11.87 and its two-hundred day simple moving average is $12.66. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 3.11.

Seabridge Gold (NYSE:SA) (TSE:SEA) last posted its quarterly earnings data on Monday, August 14th. The basic materials company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.11. Analysts forecast that Seabridge Gold will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Seabridge Gold

Several hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp boosted its stake in Seabridge Gold by 5.8% in the 1st quarter. Van ECK Associates Corp now owns 3,885,056 shares of the basic materials company’s stock worth $50,311,000 after buying an additional 213,652 shares during the last quarter. Kopernik Global Investors LLC boosted its position in shares of Seabridge Gold by 0.5% in the second quarter. Kopernik Global Investors LLC now owns 2,728,409 shares of the basic materials company’s stock worth $32,877,000 after acquiring an additional 14,593 shares during the last quarter. Amundi grew its holdings in Seabridge Gold by 33.4% in the fourth quarter. Amundi now owns 918,275 shares of the basic materials company’s stock valued at $12,635,000 after purchasing an additional 229,902 shares during the period. Millennium Management LLC increased its position in Seabridge Gold by 513.9% during the fourth quarter. Millennium Management LLC now owns 888,638 shares of the basic materials company’s stock worth $11,176,000 after purchasing an additional 743,881 shares during the last quarter. Finally, Raymond James & Associates raised its stake in Seabridge Gold by 2.1% during the second quarter. Raymond James & Associates now owns 653,840 shares of the basic materials company’s stock worth $7,879,000 after purchasing an additional 13,736 shares during the period. Institutional investors and hedge funds own 34.31% 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. Its principal projects are the Kerr-Sulphurets-Mitchell property and Iskut project located in British Columbia, Canada; Courageous Lake property situated in Northwest Territories, Canada; Snowstorm project situated in the Nevada; and 3 Aces project located in the Yukon Territory.