Zacks: Analysts Expect Seabridge Gold Inc (NYSE:SA) Will Announce Earnings of -$0.03 Per Share

Brokerages expect that Seabridge Gold Inc (NYSE:SA) (TSE:SEA) will report earnings per share of ($0.03) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Seabridge Gold’s earnings, with the highest EPS estimate coming in at ($0.01) and the lowest estimate coming in at ($0.04). Seabridge Gold reported earnings per share of ($0.04) during the same quarter last year, which suggests a positive year-over-year growth rate of 25%. The company is expected to announce its next quarterly earnings results on Wednesday, November 13th.

On average, analysts expect that Seabridge Gold will report full-year earnings of ($0.13) per share for the current fiscal year, with EPS estimates ranging from ($0.19) to ($0.07). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.05) per share. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Seabridge Gold.

Seabridge Gold (NYSE:SA) (TSE:SEA) last released its quarterly earnings results on Monday, May 13th. The basic materials company reported ($0.05) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.02).

Several research firms recently issued reports on SA. ValuEngine raised shares of Seabridge Gold from a “hold” rating to a “buy” rating in a report on Monday, June 3rd. Canaccord Genuity reissued a “buy” rating on shares of Seabridge Gold in a research note on Friday, July 19th. B. Riley began coverage on shares of Seabridge Gold in a research report on Tuesday, April 30th. They set a “buy” rating and a $22.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Seabridge Gold from a “hold” rating to a “sell” rating in a report on Thursday, July 4th.

NYSE SA traded down $0.04 during midday trading on Friday, hitting $14.14. 29,536 shares of the company traded hands, compared to its average volume of 394,487. The stock has a market capitalization of $891.89 million, a P/E ratio of -54.50 and a beta of 0.12. Seabridge Gold has a 52 week low of $10.40 and a 52 week high of $15.74. The firm has a 50-day simple moving average of $14.03.

A number of hedge funds have recently made changes to their positions in SA. Van ECK Associates Corp grew its stake in shares of Seabridge Gold by 1.0% during the 2nd quarter. Van ECK Associates Corp now owns 2,968,290 shares of the basic materials company’s stock worth $40,161,000 after acquiring an additional 29,522 shares during the period. Russell Investments Group Ltd. boosted its position in Seabridge Gold by 49.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,809,105 shares of the basic materials company’s stock valued at $24,498,000 after acquiring an additional 599,107 shares in the last quarter. FMR LLC boosted its position in shares of Seabridge Gold by 10.5% in the 1st quarter. FMR LLC now owns 1,228,210 shares of the basic materials company’s stock worth $15,266,000 after purchasing an additional 116,420 shares in the last quarter. Toronto Dominion Bank boosted its position in shares of Seabridge Gold by 0.3% in the 1st quarter. Toronto Dominion Bank now owns 1,007,391 shares of the basic materials company’s stock worth $12,518,000 after purchasing an additional 3,026 shares in the last quarter. Finally, Sprott Inc. raised its stake in Seabridge Gold by 5.1% in the 2nd quarter. Sprott Inc. now owns 571,287 shares of the basic materials company’s stock worth $8,858,000 after acquiring an additional 27,800 shares during the last quarter. Hedge funds and other institutional investors own 23.45% of the company’s stock.

Seabridge Gold Company Profile

Seabridge Gold Inc, a development stage company, together with its subsidiaries, engages in the acquisition and exploration of gold properties located in North America. The company also explores for copper and silver ores. It holds a 100% interest in various North American gold resource projects. The company's principal assets are the Kerr-Sulphurets-Mitchell and Iskut properties located near Stewart, British Columbia, Canada, as well as the Courageous Lake gold project located in Canada's Northwest Territories.

Featured Story: Why is Cost of Capital Important?

Get a free copy of the Zacks research report on Seabridge Gold (SA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Seabridge Gold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seabridge Gold and related companies with MarketBeat.com's FREE daily email newsletter.