Why Shares of Seabridge Gold Plummeted 20% in November
Reversing course from its 67% climb through the first 10 months of 2017, shares of Seabridge Gold (NYSE: SA) plunged 20% last month according to S&P Global Market Intelligence following the release of the company's third-quarter earnings report.
A developmental-stage company, Seabridge is engaged in the acquisition, exploration, and development of mineral properties -- namely, gold. Since the company has no source of revenue, it's imperative that the company deftly manages its finances in order to maintain operations. Recognizing this fact, investors took exception to news that the company reported a 1.5 million Canadian dollar net loss in the third-quarter -- considerably more than the CA$0.3 million net loss that the company reported during the same period last year.
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Source: Fool.com
