Seabridge Gold (SEA) AI Stock Analysis

Seabridge Gold

(TSX:SEA)

Select Model

Rating:53Neutral

Price Target:CAD 34.00▼(-0.47% Downside)

Action:reiterated

Date:08/22/26

The score is held back primarily by weak financial performance—no recurring revenue, negative operating profitability, and substantial negative free cash flow—despite a comparatively solid equity base. Technicals provide support with a clear move above key moving averages and positive momentum indicators. Valuation is a further drag due to the very high P/E and no stated dividend yield.

Positive Factors

Substantial equity baseThe sizable equity base provides Seabridge with meaningful capitalization to support exploration, engineering, permitting, and project advancement. This financial foundation can improve resilience and preserve strategic flexibility as the company works to develop and monetize its mineral assets.

Negative Factors

No recurring operating revenueThe absence of recurring revenue leaves Seabridge dependent on asset transactions, partnerships, or capital markets rather than self-funded operations. This makes financial results less predictable and increases the importance of successful project advancement and future monetization.

Seabridge Gold (SEA) vs. iShares MSCI Canada ETF (EWC)

Market Cap: CAD 2.61B
Dividend Yield: ―
Average Volume (3M): 90.65K
Price to Earnings (P/E): 117.5
Beta (1Y): 3.04
Revenue Growth: ―
EPS Growth: ―
Country: Canada
Employees: 45
Sector: Basic Materials
Sector Strength: 61
Industry: Gold

Seabridge Gold Business Overview & Revenue Model

Company Description

Seabridge Gold Inc., established in 1979 and based in Toronto, Canada, focuses on the acquisition and exploration of gold properties throughout North America. The company, formerly known as Seabridge Resources Inc. until its rebranding in June 2002,...

How the Company Makes Money

Seabridge Gold generally does not operate producing mines, so it typically does not generate recurring revenue from selling gold or copper. Instead, it seeks to create shareholder value by discovering and advancing mineral deposits (increasing estima...

Seabridge Gold Financial Statement Overview

Summary

Overall fundamentals are pressured despite a strong equity base. The income statement shows no recurring revenue and materially negative EBIT/EBITDA, while the recent TTM net income appears non-operating and not supported by cash generation. Cash flow is a key weakness with negative operating cash flow and deeply negative free cash flow, implying ongoing reliance on external funding. The balance sheet is comparatively better (meaningful equity and improved leverage ratios), but debt remains material for a business without consistent operating earnings.

Income Statement

22Negative

Balance Sheet

56Neutral

Cash Flow

28Negative

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Mar 2023	Dec 2021
Income Statement
Total Revenue	0	0	0	0	0	0
Gross Profit	-123.00K	-232.00K	0	0	0	0
EBITDA	-107.29M	-64.30M	-21.25M	-33.83M	-22.66M	-18.75M
Net Income	34.81M	-53.17M	-31.25M	-29.27M	-7.39M	895.00K
Balance Sheet
Total Assets	1.75B	1.86B	1.45B	1.35B	1.10B	747.74M
Cash, Cash Equivalents and Short-Term Investments	95.45M	126.28M	55.22M	86.19M	131.54M	44.13M
Total Debt	562.31M	599.96M	563.90M	575.32M	265.17M	272.00K
Total Liabilities	643.66M	733.94M	609.72M	621.04M	355.09M	45.41M
Stockholders Equity	1.11B	1.12B	843.02M	729.92M	740.53M	702.33M
Cash Flow
Free Cash Flow	-174.82M	-152.43M	-120.50M	-251.70M	-191.28M	-85.31M
Operating Cash Flow	-18.40M	-15.46M	-14.22M	-21.54M	-7.98M	-11.70M
Investing Cash Flow	-162.78M	-187.94M	-121.24M	-202.90M	-286.44M	-78.68M
Financing Cash Flow	139.77M	272.19M	101.27M	260.45M	325.83M	84.56M

Seabridge Gold Technical Analysis

Technical Analysis SentimentNegative

Last Price34.16

Price Trends

50DMA40.84Negative

100DMA39.97Negative

200DMA41.34Negative

Market Momentum

MACD-1.48Negative

RSI35.60Neutral

STOCH60.00Neutral

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 34.16 is below the 20-day moving average (MA) of 37.00, below the 50-day MA of 40.84, and below the 200-day MA of 41.34, indicating a bearish trend. The MACD of -1.48 indicates Negative momentum. The RSI at 35.60 is Neutral, neither overbought nor oversold. The STOCH value of 60.00 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

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

TSE:SEA against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TSE:WDO	81Outperform	CAD 3.67B	9.16	43.77%	0.12%	49.49%	73.36%
TSE:CG	68Neutral	CAD 5.52B	9.21	20.36%	0.99%	43.90%	31.23%
TSE:AAUC	66Neutral	CAD 3.66B	-36.26	-15.60%	―	53.83%	64.41%
Sector *	61Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
TSE:SEA	53Neutral	CAD 3.65B	117.47	3.10%	―	―	―
TSE:MAU	51Neutral	CAD 5.97B	-81.66	-25.28%	―	―	42.62%
TSE:SGD	45Neutral	CAD 2.47B	-31.07	-60.63%	―	―	-104.86%

* Basic Materials Sector Average

Performance Comparison

TSE:SEA and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TSE:SEA	Seabridge Gold	33.83	3.16	10.30%
TSE:WDO	Wesdome Gold Mines	25.56	5.67	28.49%
TSE:CG	Centerra Gold Inc.	28.23	12.69	81.67%
TSE:MAU	Montage Gold Corp.	14.65	8.07	122.64%
TSE:SGD	Snowline Gold Corp.	13.10	1.42	12.16%
TSE:AAUC	Allied Gold Corporation	26.28	5.58	26.96%

Seabridge Gold Corporate Events

Business Operations and StrategyM&A Transactions

Seabridge Gold Buys Wyoming Slaughterhouse Project to Target Gold and Critical Minerals

Positive

Oct 13, 2026

Seabridge Gold has agreed to acquire a 100% interest in Orogen Royalties’ Slaughterhouse Project in southern Wyoming, a historic copper and gold camp now being targeted for large iron oxide copper-gold style mineralization with potential critic...

Business Operations and Strategy

Seabridge Gold Energizes Key Power Terminal for KSM Project

Positive

Sep 8, 2026

Seabridge Gold has announced the substantial completion and successful energization of the Treaty Creek Terminal, a key electrical infrastructure component for its KSM Project in northwestern British Columbia. Located near Highway 37 and just north o...

Business Operations and StrategyLegal ProceedingsRegulatory Filings and Compliance

Seabridge Faces Renewed Indigenous Consultation Pressure Over KSM Project

Negative

Aug 20, 2026

Seabridge Gold has disclosed that the Gitxsan Huwilp Government has withdrawn a 2013 letter of support for the KSM Project’s environmental assessment to press for more meaningful consultation with neighboring Indigenous group Tsetsaut Skii km L...

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.

Date of analysis: Aug 22, 2026

Seabridge Gold AI Stock Analysis