Seabridge Gold (SEA) AI Stock Analysis

• Market Cap: $1.74B
• Dividend Yield: N/A
• Average Volume (3M): 173.99K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.70
• Revenue Growth: N/A
• EPS Growth: 1.89%
• Country: CA
• Employees: 12
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Gold
• EPS (TTM): -0.34
• Shares Outstanding: 100,219,666
• 10 Day Avg. Volume: 165,522
• 30 Day Avg. Volume: 173,991
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 104.34
• Price to Cash Flow (P/CF): -137.00
• P/FCF Ratio: 0.00
• 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$41.79
• Price Target Upside: 140.87% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

Seabridge Gold faces significant financial challenges with zero revenue and persistent losses, leading to a low financial performance score. Technical analysis indicates a bearish trend, and valuation remains unattractive due to negative earnings. However, recent positive corporate events, like securing financing and achieving a legal victory, provide some optimism for future potential.

Seabridge Gold Business Overview & Revenue Model

Company Description

Seabridge Gold (SEA) is a natural resource company engaged primarily in the acquisition and exploration of gold properties located in North America. Its principal assets include the KSM Project in British Columbia, Canada, one of the world's largest undeveloped gold projects, and the Courageous Lake Project in the Northwest Territories. The company's strategy is focused on growing its resource base through exploration, while partnering with or selling to larger mining companies to develop its projects.

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 is grappling with severe financial challenges, marked by a lack of revenue and persistent operational losses. Despite a moderately stable balance sheet, negative cash flows and continual losses pose significant risks, necessitating strategic improvements in revenue generation and cost management.

Income Statement

Seabridge Gold's income statement reveals substantial challenges, primarily due to the absence of revenue generation. Despite being a mining company, it has reported zero revenue across multiple periods, resulting in gross and net profit margins that are effectively non-existent. The recurring negative EBIT and EBITDA reflect ongoing operational losses. The lack of revenue growth is a critical area of concern, indicating a need for strategic shifts to improve financial performance.

Balance Sheet

The balance sheet shows a moderately stable financial position with a reasonable level of stockholders' equity relative to total assets, resulting in an adequate equity ratio. The debt-to-equity ratio suggests manageable leverage, though there has been an increase in total debt over recent years. The return on equity is negative due to consistent net losses, which could be a potential concern if not addressed. Overall, while the financial structure is not overly leveraged, the ongoing losses are problematic.

Cash Flow

Seabridge Gold's cash flow statement demonstrates significant challenges, particularly with negative operating and free cash flows, indicating insufficient operational cash generation to cover capital expenditures. The free cash flow growth rate is negative, underscoring ongoing financial strain. The operating cash flow to net income ratio is unfavorable, reflecting poor cash conversion. These issues highlight the need for improved cash management and operational efficiency.

Breakdown
TTM	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Income Statement		Total Revenue
0.00	0.00	0.00	0.00	0.00	0.00
	Gross Profit
-289.00K	-385.00K	-156.00K	-168.00K	-36.00K	-36.00K
	EBIT
-19.41M	-17.44M	18.11M	-16.43M	-14.93M	-12.04M
	EBITDA
-13.22M	-17.06M	-22.66M	5.92M	-14.70M	-11.81M
	Net Income Common Stockholders
-12.66M	-29.27M	-7.39M	895.00K	-14.94M	-11.61M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
61.19M	86.19M	131.54M	44.13M	41.26M	15.94M
	Total Assets
169.07M	1.35B	1.10B	747.74M	647.82M	449.37M
	Total Debt
0.00	575.32M	265.17M	272.00K	248.00K	274.00K
	Net Debt
-1.59M	492.89M	219.02M	-11.25M	-17.28M	-8.52M
	Total Liabilities
6.41M	621.04M	355.09M	45.41M	33.10M	34.35M
	Stockholders Equity
162.66M	729.92M	740.53M	702.33M	614.72M	415.02M
Cash Flow		Free Cash Flow
-161.03M	-251.70M	-191.28M	-85.31M	-169.32M	-38.10M
	Operating Cash Flow
-17.37M	-21.54M	-7.98M	-11.70M	-10.52M	-10.90M
	Investing Cash Flow
-158.90M	-202.90M	-286.44M	-78.68M	-180.46M	-14.77M
	Financing Cash Flow
108.45M	260.45M	325.83M	84.56M	199.72M	31.53M

Seabridge Gold Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 17.35
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 17.35 is above the 20-day moving average (MA) of 16.30, above the 50-day MA of 16.64, and below the 200-day MA of 20.04, indicating a neutral trend. The MACD of -0.32 indicates Negative momentum. The RSI at 58.16 is Neutral, neither overbought nor oversold. The STOCH value of 63.99 is Neutral, 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
K	80 Outperform	$24.52B	18.84	14.66%	0.85%	23.38%	131.87%
AGI	77 Outperform	C$17.07B	42.54	8.74%	0.34%	33.75%	32.86%
ABX	73 Outperform	$49.22B	17.06	9.00%	1.97%	15.40%	72.49%
NGD	73 Outperform	$3.93B	28.25	11.14%	―	18.32%	―
BTO	66 Neutral	$5.90B	―	-18.54%	4.33%	-0.18%	-2195.85%
Sector *	47 Neutral	$2.49B	-2.97	-22.93%	3.49%	4.06%	-27.72%
SEA	38 Underperform	$1.74B	―	-3.92%	―	―	1.89%

Seabridge Gold Corporate Events

Seabridge Gold Wins Key Legal Battle Over Exploration Expenditures

Seabridge Gold announced a significant legal victory as the British Columbia Supreme Court ruled in favor of the company, allowing its appeal against the Canada Revenue Agency’s decision to disallow $15.8 million in exploration expenditures under the BC Mining Exploration Tax Credit program. The ruling validates the company’s claims and is expected to result in refunds and potentially resolve related disputes with flow-through share investors. This decision not only strengthens Seabridge’s financial position but also reinforces its approach to claiming expenses, which could have positive implications for its stakeholders.

Seabridge Gold Reports 2024 Financials and Strengthens Position with New Financing

Seabridge Gold has filed its 2024 Annual Information Form and Audited Financial Statements, reporting a net loss of $31.2 million for the year. Despite the financial loss, the company achieved significant milestones, including the discovery of a large gold and copper system at its Iskut project and progress on the KSM partnership opportunity. In February 2025, Seabridge bolstered its financial position with equity financings totaling $142.5 million, which will fund various initiatives, including the completion of the KSM switching station and a bankable feasibility study for the KSM project.

Seabridge Gold Sets Ambitious 2025 Objectives

Seabridge Gold has announced its corporate objectives for 2025, emphasizing strategic partnerships and resource development. Key goals include securing a partnership for the KSM project, obtaining $100 million in new funding, and advancing exploration at Iskut and 3 Aces. These objectives aim to strengthen Seabridge Gold’s market position and enhance shareholder value through increased resource development and regulatory compliance.

Seabridge Gold Sets 2024 Corporate Objectives

Seabridge Gold has announced its 2024 corporate objectives, continuing its tradition of setting and reporting annual goals for over 20 years. The company has outlined fifteen specific objectives for 2024, reflecting its commitment to transparency and accountability in its operations, which could impact its positioning in the gold exploration industry.

Seabridge Gold Secures $100M Financing for KSM Project Advancement

Seabridge Gold has closed a US$100 million financing deal, including US$20 million from a strategic investor, to fund its KSM project and other corporate activities. This funding will enable the company to maintain its priority status with BC Hydro for low-cost green energy, complete necessary field data collection, and undertake engineering evaluations with prospective joint-venture partners for the project’s bankable feasibility study.

Seabridge Gold Secures $100 Million for KSM Project Advancement

Seabridge Gold Inc. has announced a total of US$100 million in financings, including a US$20 million investment from a strategic investor. The funds will be used for critical activities at the company’s KSM gold-copper project, including payments to BC Hydro, field data collection, and early value engineering for a bankable feasibility study, as well as other project-related costs and general corporate purposes. This financing is intended to support the advancement of the KSM project and maintain commitments to indigenous partners and local communities, positioning KSM for future partnerships.

Seabridge Gold Renews $100 Million ATM Offering Agreement

Seabridge Gold has renewed its At-The-Market (ATM) Offering agreement, allowing the company to raise up to $100 million through the sale of common shares on the NYSE, with proceeds potentially funding exploration, acquisitions, and corporate purposes. This move replaces a previous agreement, providing Seabridge with flexible funding options to support its strategic initiatives.

Seabridge Gold Advances Exploration at Iskut’s Snip North Target

Seabridge Gold has announced the results of its 2024 drill program at the Snip North target on the Iskut project, revealing significant copper and gold mineralization. The discovery, characterized by two distinct mineralization styles, extends over a considerable strike length and remains open for further exploration. The company plans to focus on delineating a mineral resource in 2025, enhancing its potential for future discoveries in the region.