Seabridge Gold Inc.

Seabridge Gold Inc. is designed to provide its shareholders with exceptional leverage to a rising gold price. From 1999 through 2002, when the gold price was lower, Seabridge acquired nine North American projects with substantial gold resources, including Courageous Lake and KSM. Subsequent exploration by Seabridge has significantly expanded its acquired gold resource base.

Seabridge considers each of its common shares to represent an indirect ownership interest in its reserves and resources. Our aim is to increase the value of this ownership interest by growing reserves and resources faster than shares outstanding. Project acquisitions, exploration and engineering programs are carefully designed and monitored to ensure that equity dilution required to fund these activities is more than offset by additional reserves and resources.

Seabridge is pursuing three value-enhancing strategies. First, the Company continues to search for gold projects in North America which would be accretive in terms of gold resources. Second, Seabridge funds exploration and engineering work considered likely to expand resources and upgrade them to reserves. Third, Seabridge sells or partners its projects when they reach the production stage, to limit risk and share dilution.

Expert Comments:

Seabridge Gold reports that it expects the technical report update on one of its B.C. projects to be completed as scheduled, in 30–45 days.
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Cantor Fitzgerald

"Seabridge Gold Inc. is one of our Top Picks in precious metals for 2020. With Proven and Probable reserves of 45 Moz Au, in this gold price environment, particularly with a weak Canadian dollar, the company and KSM are perfectly positioned to attract a large-tier joint venture partner. . .there is still upside to our target price, which has considerable room to move higher."

B. Riley FBR Inc.

"We are maintaining our Buy rating but increasing our target price on Seabridge Gold Inc. to $41/share from $31.50/share to reflect recent movements and future expectations of commodity prices. Given the current macro backdrop and parallels we see to past periods, we believe that gold prices will rise to the $2,500/oz level, and we feel compelled to align our 12-month price targets to this view."

Adam Graf, B. Riley FBR Inc.

"B. Riley has a Buy rating and a US$30.50/share target price on SEA."

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Derek Macpherson, Red Cloud Securities

"Red Cloud has a Buy rating and a CA$49 target price on SEA."

The company makes the changes to manage its "broad and responsible approach to advancing projects with community support."
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Adam Graf, B. Riley FBR Inc.

"Seabridge Gold Inc. is a high-quality, derisked development story and one of our favorites. . .the company is well positioned to participate in mergers and acquisitions by the world's largest gold and copper miners in search of large, long-term mines in safe jurisdictions."

Company has noted that drilling has confirmed the presence of structures and stratigraphy similar to neighboring Turquoise Ridge and Twin Creeks gold mines.
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Adam Graf, B. Riley FBR Inc.

"We are raising our target price on Seabridge Gold Inc. 17%. . .we expect the company and other preproducers to benefit from asset development and industry consolidation. . .a gold dedicated preproducer, Seabridge can provide superior leverage to a rising gold price."

The firm states the new targets could "contribute to the multi-generational life" of the district.
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Over the past 20 years, this company's shares have outperformed gold by more than five to one.
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The company is now planning a drill campaign there.
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More Expert Comments

Experts Following This Company

Dalton Baretto – Canaccord Genuity
Adam Graf – B. Riley FBR Inc.
Mike Kozak, Analyst – Cantor Fitzgerald
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Derek Macpherson, VP Mining Analysis – Red Cloud Securities
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Joe Reagor, Analyst – ROTH Capital Partners

The information provided above is from analysts, newsletters, the company and other contributors.

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