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Drill Results, Metals Prices Drive Target Price Raise on Gold-Copper Company

Source: Streetwise Reports

 

November 17, 2020 (Investorideas.com Newswire) These factors, positively impacting Seabridge Gold, are reviewed in a ROTH Capital Partners report.


In a Nov. 12 research note, analyst Joe Reagor reported that ROTH Capital Partners increased its price target on Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) to US$24 per share from $21 for two main reasons. Results from the 2020 drill program at Iskut "showed the potential for a significant porphyry system" and "Seabridge is poised to benefit from rising commodity prices."

Reagor reviewed the drill campaign's goal and highlights. Seabridge aimed to identify the potential for a porphyry system at depth. Noteworthy intercepts include 31.8 meters (31.8m) of 0.62% copper as well as 158m of 0.16 g/t gold and 0.16% copper.

"While these results are not high grade, they do appear to support Seabridge's view that Iskut has a porphyry system at depth," noted Reagor.

He pointed out that Seabridge has significant leverage to copper and gold prices due to its large base of both metals. Further, he wrote that those prices should "benefit from worldwide stimulus and infrastructure spending." As such, ROTH increased the long-term gold price in its model on Seabridge to $1,700 an ounce from $1,500.

ROTH has a Buy rating on Seabridge Gold. The current share price is around US$19.73.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Seabridge Gold. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

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