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TheStreet Open House

Why Seabridge Gold (SA) Stock Is Up Today

NEW YORK (TheStreet) -- Seabridge Gold (SA) Stock is up 15.6% to $8.23 in trading Tuesday.

The stock jumped following the company's release of a Chartered Financial analyst's report in which analyst Michael Maggi set a "buy" rating for the company.

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An industry that has been plagued by three consecutive down years has started to make gains again in 2014. The precious metal sector is up 14% while gold miners have gained almost 12%.

Maggi points to global instability as a reason for price inflation, but expects investors appetite for "safe-haven" investments to bode well for the sector.

"In the short term, geopolitical risks such as the recent events in the Ukraine, Syria, etc. would likely propel gold prices higher; while over the longer-term, the effects of easy monetary policies across the world will likely increase inflation pressures and therefore, investor demand for gold," Maggi said.

SA Chart

SA data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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