Seabridge Gold (TSE:SEA)
TSX:SEA
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Seabridge Gold
(TSX:SEA)
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Rating:51Neutral
Price Target:
C$44.00
▼(-4.45% Downside)
Action:Reiterated
Date:05/15/26
The score is held down primarily by weak financial performance (no revenue, widening losses, and significant negative free cash flow indicating funding risk) and an unfavorable earnings-based valuation (negative P/E). These are partially offset by relatively strong technical momentum, with price above key moving averages and positive MACD/RSI readings.
Positive Factors
Large, strategic project portfolio
Seabridge owns large, district-scale projects (KSM, Iskut) that provide long-duration optionality. The scale and grade potential of these assets underpin strategic value, attract JV/partner interest, and allow value realization via asset sales or staged development over multiple years.
Negative Factors
No operating revenue; widening net losses
The absence of operating revenue and growing losses mean the company cannot self-fund operations from cash flow. Over months, this structural lack of income increases reliance on external capital, risks dilution, and can pressure project timelines if financing terms deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Large, strategic project portfolio
Seabridge owns large, district-scale projects (KSM, Iskut) that provide long-duration optionality. The scale and grade potential of these assets underpin strategic value, attract JV/partner interest, and allow value realization via asset sales or staged development over multiple years.
Read all positive factors
Seabridge Gold (SEA) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$4.35B
Dividend YieldN/A
Average Volume (3M)248.99K
Price to Earnings (P/E)―
Beta (1Y)2.83
Revenue GrowthN/A
EPS Growth-408.67%
CountryCA
Employees45
SectorBasic Materials
Sector Strength58
IndustryGold
Share Statistics
EPS (TTM)-0.68
Shares Outstanding107,373,184
10 Day Avg. Volume383,341
30 Day Avg. Volume248,987
Financial Highlights & Ratios
PEG Ratio-1.50
Price to Book (P/B)3.65
Price to Sales (P/S)0.00
P/FCF Ratio-26.93
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$97.57Price Target Upside111.87% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-0.19
Revenue Forecast (FY)N/A
Seabridge Gold Business Overview & Revenue Model
Company Description
Seabridge Gold Inc., together with its subsidiaries, engages in the acquisition and exploration of gold properties in North America. The company also explores for copper, silver, molybdenum, and rhenium deposits. Its principal projects are the Ker...
How the Company Makes Money
Seabridge Gold does not primarily generate revenue from selling metals because it is generally a pre-production exploration and development company and does not typically operate producing mines. Its business model is to create value by (1) acquir...
Seabridge Gold Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
56
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Mar 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -90.00K | -232.00K | 0.00 | 0.00 | 0.00 | 0.00 |
| EBITDA | -46.67M | -21.97M | -21.25M | -17.06M | -22.66M | -18.76M |
| Net Income | -70.37M | -53.17M | -31.25M | -29.27M | -7.39M | 895.00K |
Balance Sheet | ||||||
| Total Assets | 1.80B | 1.86B | 1.45B | 1.35B | 1.10B | 747.74M |
| Cash, Cash Equivalents and Short-Term Investments | 144.65M | 126.28M | 55.22M | 86.19M | 131.54M | 44.13M |
| Total Debt | 559.10M | 599.96M | 563.90M | 575.32M | 265.17M | 272.00K |
| Total Liabilities | 597.06M | 733.94M | 609.72M | 621.04M | 355.09M | 45.41M |
| Stockholders Equity | 1.20B | 1.12B | 843.02M | 729.92M | 740.53M | 702.33M |
Cash Flow | ||||||
| Free Cash Flow | -163.14M | -152.43M | -120.50M | -251.70M | -191.28M | -85.31M |
| Operating Cash Flow | -18.12M | -15.46M | -14.22M | -21.54M | -7.98M | -11.70M |
| Investing Cash Flow | -180.61M | -187.94M | -121.24M | -202.90M | -286.44M | -78.68M |
| Financing Cash Flow | 169.68M | 272.19M | 101.27M | 260.45M | 325.83M | 84.56M |
Seabridge Gold Technical Analysis
Negative
46.05
Price Trends
41.10
Negative
43.08
Negative
37.28
Positive
Market Momentum
0.02
Positive
40.80
Neutral
35.24
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SEA, the sentiment is Negative. The current price of 46.05 is above the 20-day moving average (MA) of 40.96, above the 50-day MA of 41.10, and above the 200-day MA of 37.28, indicating a neutral trend. The MACD of 0.02 indicates Positive momentum. The RSI at 40.80 is Neutral, neither overbought nor oversold. The STOCH value of 35.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:SEA.
Seabridge Gold Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | C$4.03B | 7.85 | 46.09% | ― | 59.18% | 115.75% | |
73 Outperform | C$4.69B | 11.36 | 32.55% | 1.36% | 28.75% | 1404.48% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | C$4.35B | -158.93 | -6.39% | ― | ― | -408.67% | |
51 Neutral | C$4.85B | -16.93 | -34.14% | ― | 51.21% | 7.83% | |
49 Neutral | C$5.44B | -179.86 | -34.88% | ― | ― | 58.03% | |
49 Neutral | C$2.65B | -15.46 | -64.06% | ― | ― | -84.02% |
* Basic Materials Sector Average
TSE:SEA
Seabridge Gold
37.89
20.83
122.10%
TSE:WDO
Wesdome Gold Mines
26.88
8.47
46.01%
TSE:CG
Centerra Gold
22.41
13.06
139.68%
TSE:MAU
Montage Gold Corp.
14.01
10.01
250.25%
TSE:SGD
Snowline Gold Corp.
14.42
7.05
95.66%
TSE:AAUC
Allied Gold Corporation
38.00
20.30
114.69%
Seabridge Gold Corporate Events
Business Operations and Strategy
Seabridge Gold Unveils Maiden 9.2-Million-Ounce Gold Resource at Snip North in B.C.
Positive
Apr 15, 2026
Seabridge Gold has reported a maiden mineral resource estimate for the Snip North deposit at its 100% owned project in British Columbia’s Golden Triangle, which it is renaming the Bronson Corridor Project. The inferred resource at Snip North...
Business Operations and StrategyFinancial Disclosures
Seabridge Gold Lifts KSM Resource Estimates on Higher Metal Price Assumptions
Positive
Mar 31, 2026
Seabridge Gold has updated mineral resource estimates for its KSM project in British Columbia, using higher metal price assumptions and revised cost parameters that align with those commonly used by major mining companies. The new pricing deck inc...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and Compliance
Seabridge Gold Posts Wider 2025 Loss but Boosts Investment and Advances Project Spin-Out
Neutral
Mar 27, 2026
Seabridge Gold has filed its 2025 Annual Information Form, audited financial statements, and MDA, 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 remeasurem...
Business Operations and StrategyLegal Proceedings
Seabridge Gold Clears Legal Hurdle as Tudor Drops Appeal Over KSM Tunnel Rights
Positive
Mar 19, 2026
Seabridge Gold has secured a legal win for its flagship KSM project after Tudor Gold abandoned its appeal to the Supreme Court of British Columbia over the Chief Gold Commissioner’s decision regarding the Mitchell Treaty Tunnels. The Commiss...
Business Operations and Strategy
Seabridge Gold Sets 2026 Agenda to Advance KSM, Spin Out Courageous Lake
Positive
Mar 10, 2026
Seabridge Gold has outlined 10 corporate, project, ESG, exploration and safety objectives for 2026, tying them to management and employee incentive pay as part of its long-standing annual “report card” practice. The plan centers on sec...
Business Operations and Strategy
Seabridge Gold Posts Strong Metallurgical Results at Snip North to Support Maiden Resource
Positive
Mar 2, 2026
Seabridge Gold reported strong initial metallurgical test results from its Snip North deposit, part of the 100% owned Iskut gold‑copper project in British Columbia’s Golden Triangle. Testing on drill-core and composite samples showed t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.