Seabridge Gold (SEA) AI Stock Analysis

• Market Cap: C$4.48B
• Dividend Yield: N/A
• Average Volume (3M): 197.66K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.14
• Revenue Growth: N/A
• EPS Growth: -267.06%
• Country: CA
• Employees: 45
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.32
• Shares Outstanding: 104,346,725
• 10 Day Avg. Volume: 158,076
• 30 Day Avg. Volume: 197,663
• PEG Ratio: 0.00
• Price to Book (P/B): 1.73
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -12.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: C$88.91
• Price Target Upside: 105.14% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: C$41.00 ▼(-5.40% Downside)

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.

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 Kerr-Sulphurets-Mitchell property and Iskut project located in British Columbia, Canada; Courageous Lake property situated in Northwest Territories, Canada; Snowstorm project located in the Nevada; and 3 Aces project located in the Yukon Territory. The company was formerly known as Seabridge Resources Inc. and changed its name to Seabridge Gold Inc. in June 2002. Seabridge Gold Inc. was incorporated in 1979 and is headquartered in Toronto, Canada.

How the Company Makes Money

Seabridge Gold makes money by increasing the value of its gold reserves through exploration and project development, aiming to sell or partner with larger mining companies for the actual mining operations. The company's revenue model largely depends on the appreciation of its asset value, which is achieved by demonstrating the potential profitability of its projects through exploration successes. Seabridge Gold's earnings can also be influenced by fluctuations in gold prices and strategic partnerships with other mining companies that may provide capital or expertise for project development. The company does not generate revenue from gold production, as it focuses on exploration and development rather than mining itself.

Seabridge Gold Financial Statement Overview

Summary

Seabridge Gold faces significant financial challenges with zero revenue, persistent losses, and high capital expenditures. Despite a stable equity base, increasing debt levels and negative cash flows highlight financial instability.

Income Statement

Seabridge Gold's income statement reflects significant challenges with no revenue generation and consistently negative net income over multiple periods. The gross profit margin and net profit margin are not applicable due to zero revenue. The company experienced a widening net loss in TTM (Trailing-Twelve-Months) compared to the previous year, indicating deteriorating financial performance.

Balance Sheet

The balance sheet shows a stable equity base with stockholders' equity increasing over time, but the debt-to-equity ratio has risen due to increasing total debt. The equity ratio remains relatively healthy, showing the company's reliance on equity financing. However, the company's high leverage could pose a risk if profitability doesn't improve.

Cash Flow

Seabridge Gold's cash flow statement reveals a concerning trend with substantial negative free cash flow. Operating cash flow remains negative, and the free cash flow to net income ratio is unfavorable. Despite financing activities providing cash, the heavy capital expenditures are a significant cash drain, reflecting operational challenges.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA	-44.88M	-21.25M	-17.06M	-22.66M	-18.76M	-16.53M
Net Income	-50.15M	-31.25M	-29.27M	-7.39M	895.00K	-14.94M
Balance Sheet
Total Assets	1.71B	1.45B	1.35B	1.10B	747.74M	647.82M
Cash, Cash Equivalents and Short-Term Investments	111.28M	55.22M	86.19M	131.54M	44.13M	41.26M
Total Debt	584.44M	563.90M	575.32M	265.17M	272.00K	248.00K
Total Liabilities	650.17M	609.72M	621.04M	355.09M	45.41M	33.10M
Stockholders Equity	1.06B	843.02M	729.92M	740.53M	702.33M	614.72M
Cash Flow
Free Cash Flow	-126.08M	-120.50M	-251.70M	-191.28M	-85.31M	-169.32M
Operating Cash Flow	-10.15M	-14.22M	-21.54M	-7.98M	-11.70M	-10.52M
Investing Cash Flow	-170.81M	-121.24M	-202.90M	-286.44M	-78.68M	-180.46M
Financing Cash Flow	232.11M	101.27M	260.45M	325.83M	84.56M	199.72M

Seabridge Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 43.34
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:SEA, the sentiment is Positive. The current price of 43.34 is above the 20-day moving average (MA) of 41.47, above the 50-day MA of 37.81, and above the 200-day MA of 26.18, indicating a bullish trend. The MACD of 1.41 indicates Negative momentum. The RSI at 59.80 is Neutral, neither overbought nor oversold. The STOCH value of 83.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:SEA.

Seabridge Gold Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
WDO	81 Outperform	C$3.71B	13.28	42.97%	―	69.33%	253.46%
CG	77 Outperform	C$4.32B	9.27	18.39%	1.36%	3.93%	247.84%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
MAU	60 Neutral	C$3.56B	-36.04	-48.70%	―	―	-53.84%
AAUC	60 Neutral	C$4.33B	-80.02	-14.03%	―	49.65%	71.84%
SEA	52 Neutral	C$4.48B	-81.32	-5.19%	―	―	-267.06%
SGD	49 Neutral	C$2.98B	-61.15	-50.94%	―	―	―

Seabridge Gold Corporate Events

Seabridge Gold Advances KSM, Spins Out Courageous Lake and Expands Iskut Discovery in 2025 Update

Seabridge Gold reported substantial 2025 progress at its KSM project, completing its largest-ever geotechnical drilling campaign and key construction milestones on the Treaty Creek Terminal switching station to connect the project to BC Hydro’s renewable power, while maintaining strong environmental performance and Indigenous engagement. Management continues to advance joint venture negotiations for KSM, although its self-imposed year-end partnership announcement target will be missed.

The company also unveiled a plan to spin out its Courageous Lake project into a new listed entity, Valor Gold, distributing shares to existing Seabridge investors so the sizeable high‑grade gold resource can be independently valued and advanced by its own management team. In parallel, aggressive drilling at the nearby Iskut Project’s Snip North discovery has confirmed a large porphyry system with extensive gold-copper mineralization, with a maiden resource estimate expected in early 2026, bolstering Seabridge’s resource base and reinforcing its strategy of enhancing gold resources per share while positioning KSM for permitting and eventual development with a future partner.

The most recent analyst rating on (TSE:SEA) stock is a Buy with a C$63.00 price target. To see the full list of analyst forecasts on Seabridge Gold stock, see the TSE:SEA Stock Forecast page.

Seabridge Gold to Spin Out Courageous Lake Project into Valor Gold

Seabridge Gold Inc. plans to spin out its Courageous Lake Gold Project into a new entity, Valor Gold, to unlock its value for shareholders. The Courageous Lake project, one of Canada’s largest undeveloped gold projects, will be advanced by Valor Gold through exploration and permitting, while Seabridge continues to focus on its KSM project. The spin-out is expected to highlight the project’s potential and provide more optionality for shareholders.

The most recent analyst rating on (TSE:SEA) stock is a Buy with a C$63.00 price target. To see the full list of analyst forecasts on Seabridge Gold stock, see the TSE:SEA Stock Forecast page.

Seabridge Gold Expands Snip North Deposit with Promising Drilling Results

Seabridge Gold announced promising results from its 2025 drilling campaign at the Snip North Deposit within the Iskut project, revealing a substantial and continuous gold and copper mineralization. The findings suggest a large porphyry Cu-Au system with mineralization extending over significant distances, indicating potential for a significant maiden resource estimate by early 2026. The mineralization remains open at depth and along strike, with potential for discovering higher-grade sources, which could enhance the company’s resource base and strengthen its position in the mining industry.

The most recent analyst rating on (TSE:SEA) stock is a Buy with a C$65.00 price target. To see the full list of analyst forecasts on Seabridge Gold stock, see the TSE:SEA Stock Forecast page.

Seabridge Gold’s KSM Mining Wins AME David Barr Award for Safety Leadership

Seabridge Gold’s subsidiary, KSM Mining ULC, has been awarded the AME David Barr Award for excellence in health and safety leadership and innovation in mineral exploration. This recognition highlights their efforts in fostering collaboration and enhancing emergency preparedness in British Columbia’s Golden Triangle region, showcasing their commitment to safety and community engagement.

The most recent analyst rating on (TSE:SEA) stock is a Buy with a C$40.00 price target. To see the full list of analyst forecasts on Seabridge Gold stock, see the TSE:SEA Stock Forecast page.

Seabridge Gold Faces Legal Challenge Over KSM Project Tunnels

Seabridge Gold is facing a legal challenge from Tudor Gold Corp. regarding the construction of tunnels for its KSM Project. Tudor Gold has filed a petition to void the Licence of Occupation granted to Seabridge, claiming it interferes with their mineral claims. The dispute highlights the tension between infrastructure development and mineral rights in British Columbia, with Seabridge asserting that the project has received necessary approvals and is in the province’s interest.

The most recent analyst rating on (TSE:SEA) stock is a Buy with a C$40.00 price target. To see the full list of analyst forecasts on Seabridge Gold stock, see the TSE:SEA Stock Forecast page.