CA - Seabridge Gold: Good Growth Potential And Shares May Become More Attractive (Rating Downgrade)
2024-05-16 06:40:51 ET
Summary
- Seabridge Gold receives a "Hold" rating, downgraded from "Buy," due to the stock being in the upper part of the cycle and potential short-term negative pressures.
- Gold prices are expected to remain bullish due to demand from central banks and safe-haven purposes amid economic uncertainties.
- Copper prices are also expected to remain bullish due to strong industrial demand, driven by Chinese stimulus and energy transition projects, and supply deficit.
- Seabridge Gold mineral projects' growth potential, inherent in the company's extensive resources, provides an intriguing upside catalyst in the context of rising metal prices.
A Hold Rating for shares of Seabridge Gold
This analysis suggests a "Hold" rating on shares of Seabridge Gold ( SA ) ( SEA:CA ), a Canadian developer of gold and copper properties in Canada and the US Nevada. The rating represents a downgrade from the previous "Buy"....
Seabridge Gold: Good Growth Potential And Shares May Become More Attractive (Rating Downgrade)