Seabridge Gold (NYSE:SA) Price Target Raised to $72.00

Seabridge Gold (NYSE:SA) (TSE:SEA) had its price target upped by Royal Bank Of Canada from $71.00 to $72.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the company. Wall Street Zen raised Seabridge Gold from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. 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. Zacks Research raised shares of Seabridge Gold to a “hold” rating in a research note on Tuesday, September 1st. Finally, B. Riley Financial started coverage on shares of Seabridge Gold in a research note on Monday, August 3rd. They issued a “buy” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Seabridge Gold presently has an average rating of “Hold” and a consensus price target of $56.00.

Seabridge Gold Trading Up 0.4%

Shares of NYSE SA opened at $30.99 on Wednesday. Seabridge Gold has a twelve month low of $23.69 and a twelve month high of $35.12. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $29.68 and a 200-day simple moving average of $29.78. The stock has a market capitalization of $3.34 billion and a PE ratio of -64.03.

Institutional Trading of Seabridge Gold

Several hedge funds have recently modified their holdings of SA. Kopernik Global Investors LLC grew its stake in Seabridge Gold by 5.1% during the 1st quarter. Kopernik Global Investors LLC now owns 7,332,863 shares of the basic materials company’s stock worth $207,813,000 after purchasing an additional 353,252 shares in the last quarter. Cibc World Market Inc. raised its position in Seabridge Gold by 2.4% in the 4th quarter. Cibc World Market Inc. now owns 2,182,535 shares of the basic materials company’s stock valued at $64,712,000 after purchasing an additional 51,350 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in Seabridge Gold in the 2nd quarter valued at about $45,048,000. Clear Street Group Inc. purchased a new position in shares of Seabridge Gold in the 4th quarter valued at about $25,891,000. Finally, TD Asset Management Inc boosted its stake in shares of Seabridge Gold by 109.1% in the 4th quarter. TD Asset Management Inc now owns 539,446 shares of the basic materials company’s stock valued at $16,013,000 after buying an additional 281,512 shares during the period. 34.85% of the stock is currently owned by institutional investors and hedge funds.

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.