Is Seabridge Gold (SA) the Best Junior Gold Mining Stock to Buy Now?

Seabridge Gold Inc. (NYSE:SA) is one of the 9 Best Junior Gold Mining Stocks to Buy Now.

As of January 5, all analysts covering Seabridge Gold Inc. (NYSE:SA) are bullish, with a consensus median price target of $52.09, which reflects a strong upside of over 63%. Over the past six months, Seabridge Gold shares have surged more than 108%.

On December 16, Seabridge Gold Inc. (NYSE:SA) shared its plans to spin-out the Courageous Lake Gold Project into a subsidiary to be renamed Valor Gold. Following the spin-out into a new subsidiary, Valor Gold will focus on expanding the project through exploration, engineering, and permitting. Seabridge plans to list the shares of Valor Gold on a major exchange, with the shares distributed to Seabridge Gold Inc. shareholders.

This decision allows the company to focus on its KSM gold/copper project and its other exploration assets, while providing autonomy to the Courageous Lake Gold Project under a new subsidiary.

Seabridge Gold describes the Courageous Lake Gold Project as one of Canada’s largest underdeveloped gold projects. The management indicates the total underdeveloped gold inventory of around 13.3 million ounces of gold, comprising Measured and Indicated Resources of 11 million ounces of gold and an additional 3.3 million ounces of gold in the inferred category. Whereas, the reported measured and indicated resources include 2.8 million ounces of proven reserves. The potential project could be one of the highest-grade open-pit gold developments in Canada.

Seabridge Gold believes there is significant upside from the addition of potential high-grade, near-surface pits nearby. The 500 km² land package remains largely unexplored; to date, less than 15% has been explored.

Seabridge Gold Inc. (NYSE:SA) is a development-stage gold mining company. It is primarily engaged in acquiring and exploring gold properties in North America.

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Disclosure: None. This article is originally published at Insider Monkey.