Royal Bank Of Canada Increases Seabridge Gold (NYSE:SA) Price Target to $72.00

Key Points

• Royal Bank of Canada raised Seabridge Gold’s price target to $72 from $71 and maintained an “outperform” rating, implying approximately 143.74% upside from the stock’s $29.54 price.
• Analyst sentiment is mixed: Seabridge has an overall “Hold” rating and an average price target of $56, based on two Buy ratings, one Hold, and one Sell.
• Seabridge Gold is an exploration and development company focused on large-scale gold and copper projects, led by its undeveloped KSM project in British Columbia; institutional investors own 34.85% of its shares.

Seabridge Gold (NYSE:SA - Get Free Report) TSE: SEA had its target price upped by stock analysts at Royal Bank Of Canada from $71.00 to $72.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the basic materials company's stock. Royal Bank Of Canada's price target points to a potential upside of 143.74% from the stock's current price.

SA has been the topic of several other research reports. Zacks Research upgraded shares of Seabridge Gold to a "hold" rating in a report on Tuesday, September 1st. Wall Street Zen raised shares of Seabridge Gold from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. B. Riley Financial assumed coverage on shares of Seabridge Gold in a report on Monday, August 3rd. They issued a "buy" rating and a $40.00 target price on the stock. Finally, Weiss Ratings raised shares of Seabridge Gold from a "sell (d-)" rating to a "sell (d)" rating in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Seabridge Gold currently has an average rating of "Hold" and an average price target of $56.00.

Seabridge Gold Stock Up 0.8%

Seabridge Gold stock traded up $0.24 during mid-day trading on Wednesday, reaching $29.54. The stock had a trading volume of 186,075 shares, compared to its average volume of 716,772. The firm has a market capitalization of $3.19 billion and a PE ratio of -60.83. Seabridge Gold has a fifty-two week low of $23.69 and a fifty-two week high of $35.12. The stock's 50-day simple moving average is $29.40 and its 200-day simple moving average is $29.90. The company has a debt-to-equity ratio of 0.46, a quick ratio of 6.71 and a current ratio of 6.71.

Institutional Trading of Seabridge Gold

Several institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold in the fourth quarter worth about $30,000. Banque Cantonale Vaudoise bought a new position in shares of Seabridge Gold during the 4th quarter valued at approximately $39,000. Allworth Financial LP purchased a new stake in shares of Seabridge Gold during the 2nd quarter worth approximately $39,000. Quantbot Technologies LP purchased a new stake in shares of Seabridge Gold during the 2nd quarter worth approximately $43,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Seabridge Gold in the 2nd quarter worth approximately $79,000. Hedge funds and other institutional investors own 34.85% of the company's stock.

About Seabridge Gold

Seabridge Gold Inc is a Canadian mineral exploration and development company focused on advancing large-scale gold and copper projects in North America. The company does not operate producing mines; its activities center on acquiring, exploring, evaluating and permitting mineral properties.

Seabridge's principal asset is the KSM project in northwestern British Columbia, a large undeveloped gold, copper, silver and molybdenum project. The company also holds interests in the Iskut project in British Columbia, the Courageous Lake project in Canada's Northwest Territories, and the Snowstorm project in Nevada.

Founded in 1999, Seabridge Gold is headquartered in Toronto, Canada, and its shares trade on the New York Stock Exchange under the symbol SA and on the Toronto Stock Exchange under the symbol SEA.

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