Seabridge Gold Inc. Ordinary Shares (Canada) (SA)

FairStock Score: 32/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that produce cash and have durable advantages. Seabridge is an explorer, not a producer. It acquires and explores gold, silver, copper and molybdenum properties in North America. That can create value if a deposit is developed, but it is not the kind of moat I can underwrite today. The financials are thin. At the 2026-10-13 close of $26.73, FairStock's P/E is 140.68 and P/B is 3.67 against a market cap of $3.2B. Its Graham Number is $6.63, implying a margin of safety of -303.17%, so price is far above a conservative asset-earnings yardstick. Returns are weak: ROE 3.27% and ROCE -1.06%. Free cash flow is negative $174.8M, a -5.4% FCF yield. Debt-to-equity is 0.51, not alarming, but Piotroski is 0/9, Altman Z is 2.74, and beta is 1.89. No revenue growth is provided, and FairStock's Lynch category is none because there are not three years of filed results. Growth is therefore a promise about future development, not a record of cash generation. I would need evidence of resource conversion, financing discipline and eventual production economics. Until then, this looks like a speculative resource option, not a Graham-style bargain. The 52-week range of $21.67 to $40.06 shows how volatile the market has been around this story.

In plain English: Seabridge Gold searches for and studies gold, silver, copper and molybdenum properties in North America. The business does not look strong right now: it spends more cash than it brings in and earns very little. At the latest price, the shares look expensive compared with those small earnings and the company's accounting value.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer