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Seabridge Gold Posts Wider 2025 Loss but Boosts Investment and Advances Project Spin-Out

Story Highlights
  • Seabridge Gold reported a larger 2025 net loss, driven by non-cash remeasurement of U.S.-dollar Secured Notes, while significantly increasing capital investment in its mineral projects.
  • The company strengthened working capital, advanced critical KSM power infrastructure, and progressed plans to spin out the Courageous Lake project and secure a development partner for KSM.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Seabridge Gold Posts Wider 2025 Loss but Boosts Investment and Advances Project Spin-Out

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Seabridge Gold ( (TSE:SEA) ) has shared an announcement.

Seabridge Gold has filed its 2025 Annual Information Form, audited financial statements, and MD&A, reporting a widened net loss of $53.2 million versus $31.2 million a year earlier. The loss was driven largely by a non-cash $60.1 million remeasurement loss on U.S.-dollar-denominated Secured Notes tied to future KSM royalties, while investment in mineral interests, property, and equipment rose to $137 million from $106.3 million.

Despite the loss, Seabridge strengthened its balance sheet, with net working capital (excluding assets held for distribution) climbing to $109.8 million from $44.8 million. Operationally, the company advanced a key BC Hydro switching station to secure low-cost green power for KSM, moved ahead with plans to spin out its Courageous Lake project into a separately listed Valor Gold Corp., and continued partner negotiations to advance KSM, underscoring a strategy to surface asset value while focusing on large gold-copper developments.

The most recent analyst rating on (TSE:SEA) stock is a Buy with a C$71.00 price target. To see the full list of analyst forecasts on Seabridge Gold stock, see the TSE:SEA Stock Forecast page.

Spark’s Take on SEA Stock

According to Spark, TipRanks’ AI Analyst, SEA is a Neutral.

Score is held back primarily by weak financial performance (no revenue, persistent losses, and sizable negative free cash flow), despite a supportive technical uptrend and generally positive project-development/news flow that is tempered by legal risk.

To see Spark’s full report on SEA stock, click here.

More about Seabridge Gold

Seabridge Gold is a Toronto-based mining company focused on acquiring and developing gold and copper projects in North America. Its principal assets include the KSM and Iskut projects in British Columbia’s Golden Triangle, the Courageous Lake project in Canada’s Northwest Territories, the Snowstorm project in Nevada’s Getchell Gold Belt, and the 3 Aces project in Yukon Territory.

Average Trading Volume: 244,462

Technical Sentiment Signal: Buy

Current Market Cap: C$3.8B

For an in-depth examination of SEA stock, go to TipRanks’ Overview page.

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