Zacks: Seabridge Gold Inc (SA) Given $17.00 Average Target Price by Brokerages

Seabridge Gold Inc (NYSE:SA) (TSE:SEA) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus price objective of $17.00 for the company and are anticipating that the company will post ($0.05) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Seabridge Gold an industry rank of 80 out of 255 based on the ratings given to related companies.

Several research analysts recently commented on SA shares. ValuEngine raised shares of Seabridge Gold from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Zacks Investment Research raised shares of Seabridge Gold from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Saturday, February 16th.

Shares of SA traded down $0.27 during midday trading on Tuesday, hitting $11.15. The stock had a trading volume of 321,479 shares, compared to its average volume of 370,439. Seabridge Gold has a 1 year low of $10.20 and a 1 year high of $15.30. The company has a market cap of $703.24 million, a P/E ratio of -79.64 and a beta of 0.06.

A number of hedge funds have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in Seabridge Gold in the 1st quarter worth about $297,000. Liberty Wealth Management LLC purchased a new position in Seabridge Gold in the 4th quarter worth about $36,000. American Century Companies Inc. purchased a new position in Seabridge Gold in the 4th quarter worth about $527,000. Advisory Services Network LLC increased its stake in Seabridge Gold by 66.2% in the 4th quarter. Advisory Services Network LLC now owns 18,210 shares of the basic materials company’s stock worth $241,000 after buying an additional 7,255 shares during the period. Finally, Millennium Management LLC increased its stake in Seabridge Gold by 119.0% in the 4th quarter. Millennium Management LLC now owns 143,023 shares of the basic materials company’s stock worth $1,892,000 after buying an additional 77,723 shares during the period. 23.51% of the stock is currently owned by institutional investors.

About Seabridge Gold

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.

See Also: What is diluted earnings per share (Diluted EPS)?

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