Seabridge Gold (NYSE:SA) Given New $72.00 Price Target at Royal Bank Of Canada

Seabridge Gold (NYSE:SA) (TSE:SEA) had its price target hoisted by equities research analysts at Royal Bank Of Canada from $71.00 to $72.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the basic materials company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 143.74% from the company’s previous close.

Several other equities research analysts also recently commented on the stock. Wall Street Zen raised shares of Seabridge Gold from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. B. Riley Financial started coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They set a “buy” rating and a $40.00 price target on the stock. Weiss Ratings raised shares of Seabridge Gold from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 18th. Finally, Zacks Research upgraded shares of Seabridge Gold to a “hold” rating in a research note on Tuesday, September 1st. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Seabridge Gold currently has a consensus rating of “Hold” and a consensus price target of $56.00.

Seabridge Gold Stock Performance

Shares of SA stock traded up $0.24 on Wednesday, hitting $29.54. 186,075 shares of the stock were exchanged, compared to its average volume of 716,772. The firm’s 50 day moving average is $29.40 and its two-hundred day moving average is $29.90. Seabridge Gold has a one year low of $23.69 and a one year high of $35.12. The firm has a market capitalization of $3.19 billion and a PE ratio of -60.83. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46.

Hedge Funds Weigh In On Seabridge Gold

A number of large investors have recently modified their holdings of SA. Financial Gravity Asset Management Inc. bought a new stake in Seabridge Gold during the 4th quarter worth approximately $30,000. Banque Cantonale Vaudoise bought a new stake in Seabridge Gold during the fourth quarter valued at $39,000. Allworth Financial LP purchased a new stake in shares of Seabridge Gold in the 2nd quarter valued at about $39,000. Quantbot Technologies LP purchased a new position in shares of Seabridge Gold during the second quarter worth about $43,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of Seabridge Gold in the second quarter worth approximately $79,000. 34.85% of the stock is currently owned by institutional investors.

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.