Could Seabridge Gold Inc Lose Strenght? The Stock Just Gapped Up

 Could Seabridge Gold Inc Lose Strenght? The Stock Just Gapped Up

The stock of Seabridge Gold Inc (TSE:SEA) gapped up by $0.19 today and has $22.38 target or 48.00% above today’s $15.12 share price. The 6 months technical chart setup indicates low risk for the $811.43M company. The gap was reported on Nov, 1 by Barchart.com. If the $22.38 price target is reached, the company will be worth $389.49M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 27,522 shares traded hands. Seabridge Gold Inc (TSE:SEA) has risen 7.96% since March 28, 2016 and is uptrending. It has outperformed by 4.95% the S&P500.

Seabridge Gold Inc (TSE:SEA) Ratings Coverage

Out of 2 analysts covering Seabridge Gold (TSE:SEA), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $15.50 is the highest target while $15.50 is the lowest. The $15.50 average target is 2.51% above today’s ($15.12) stock price. Seabridge Gold has been the topic of 2 analyst reports since October 22, 2015 according to StockzIntelligence Inc.

More notable recent Seabridge Gold Inc (TSE:SEA) news were published by: Quotes.Wsj.com which released: “News Seabridge Gold Inc.SA” on February 11, 2011, also Marketwatch.com with their article: “/quotes/zigman/3870025/realtime” published on June 05, 2009, Nasdaq.com published: “Seabridge Gold (SA): Moving Average Crossover Alert” on October 31, 2016. More interesting news about Seabridge Gold Inc (TSE:SEA) were released by: Seekingalpha.com and their article: “Seabridge Gold: Deep Kerr Falls Short” published on October 18, 2016 as well as Marketwired.com‘s news article titled: “Seabridge Gold Inc. to Acquire SnipGold Corp. by Way of Plan of Arrangement” with publication date: April 19, 2016.

Seabridge Gold Inc. is a development-stage firm engaged in the acquisition and exploration of gold properties located in North America. The company has a market cap of $811.43 million. The Firm is focused on acquiring, exploring and developing gold deposits. It currently has negative earnings. The Firm owns over five properties with gold resources and its material properties are its Kerr-Sulphurets-Mitchell (KSM) Project and its Courageous Lake Project.

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