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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#2088
Positioning
Market Dominance
Mining
Precious Metals
$982M
Rudi P. Fronk
Seabridge Gold Inc. 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.
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| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$VALE Vale S.A. | 75 | 88 | 93 | 67 | - | - | 15.8% | 6.9% | 36.6% | 22.8% | 15.9% | -8.9% | 0.0% | 0.0x | $38.7B | VS | |
$SU SUNCOR ENERGY INC | 74 | 87 | 90 | 53 | - | - | 13.1% | 6.5% | 58.3% | 18.4% | 11.0% | -3.6% | 4.9% | 29.0x | $46.0B | VS | |
$TRX TRX GOLD Corp | 72 | 83 | 77 | 96 | - | - | 10.7% | 6.1% | 41.5% | 27.8% | 11.4% | 40.0% | 0.0% | 2.0x | $104M | VS | |
$ORLA Orla Mining Ltd. | 72 | 94 | 83 | 78 | - | - | 19.6% | 15.7% | 74.8% | 47.5% | 26.2% | 47.2% | 0.0% | 0.0x | $1.7B | VS | |
$KGC KINROSS GOLD CORP | 71 | 83 | 89 | 79 | - | - | 15.1% | 9.3% | 37.8% | 31.6% | 20.0% | 21.3% | 1.3% | 21.0x | $11.4B | VS | |
$AEM AGNICO EAGLE MINES LTD | 71 | 80 | 80 | 71 | - | - | 9.4% | 6.5% | 60.5% | 36.0% | 22.9% | 25.0% | 2.0% | 6.0x | $38.9B | VS | |
$RIO RIO TINTO PLC | 70 | 76 | 84 | 64 | - | - | 20.3% | 11.2% | 23.0% | 20.1% | 23.1% | -1.3% | 11.2% | 26.0x | $93.8B | VS | |
$IAG IAMGOLD CORP | 70 | 71 | 82 | 89 | - | - | 29.9% | 17.1% | 33.7% | 57.8% | 51.9% | 65.4% | 0.0% | 34.0x | $2.5B | VS | |
$NGD New Gold Inc. /FI | 70 | 76 | 67 | 92 | - | - | 11.1% | 4.8% | 52.8% | 19.7% | 11.1% | 17.5% | 0.0% | 38.0x | $1.7B | VS | |
$PDS PRECISION DRILLING Corp | 70 | 77 | 90 | 65 | - | - | 6.6% | 3.6% | 34.4% | 11.0% | 5.9% | -10.0% | 0.0% | 52.0x | $876M | VS | |
$SA SEABRIDGE GOLD INC | 50 | 33 | 31 | 83 | - | - | - | -8.6% | - | - | - | - | 0.0% | - | $982M | ||
| SECTOR BENCH | - | - | - | - | - | 13.7x | 5.2x | 4.0% | 3.9% | 43.2% | 12.2% | 6.2% | 2.6% | 0.0% | 0.3x | - | REF |
SEABRIDGE GOLD INC (SA) receives a "Reduce" rating with a composite score of 49.5/100. It ranks #2088 out of 7,333 stocks in our coverage universe and carries a 2-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Asset base utilization
Direct cash return
Rudi P. Fronk
Chief Executive Officer
Labor Force
40
33
59
50
Audit Verdict: Lower quality and stability scores may indicate governance concerns.
No recent insider transactions available for SA
Outperforming peers — winners tend to keep winning over 3-12 months
Expensive relative to fundamentals — limited margin of safety
Weak fundamentals — higher risk of value trap
Average volatility — neutral timing signal
Moderate investment profile
Mid-range overall rating
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No analyst ratings for SA.
View All RatingsInsufficient data for Financial Analysis
| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 33 | 28 | +5NEUTRAL |
| MOMENTUM | 83 | 89 | -6DRAG |
| VALUATION | 31 | 27 | +4NEUTRAL |
| INVESTMENT | 59 | 94 | -35DRAG |
| STABILITY | 50 | 53 | -3NEUTRAL |
| SHORT INT | 35 | 24 | +11ALPHA |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
Insufficient data for ROIC calculation
GM N/A vs sector 43%, OM N/A vs sector 12%
Capital turnover N/A
Rev growth N/A, 8yr history
Interest coverage N/A
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
SEABRIDGE GOLD INC receives a Reduce rating from our analysis, with a composite score of 49.5/100 and 2 out of 5 stars, ranking #2088 out of 7,333 stocks. SA's factor profile shows weakness across multiple dimensions, suggesting the stock may underperform going forward. Existing holders may want to consider trimming positions or tightening stop-losses.
SA's quality score of 33/100 is below average, suggesting challenges with profitability or capital efficiency. Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
With a value score of 31/100, SA appears somewhat expensive relative to its fundamentals. Investors paying a premium here are likely betting on above-average growth or margin expansion to justify current prices.
With an investment score of 59/100, SA exhibits moderate growth-oriented spending. Key growth metrics include a return on assets of -8.6% (sector: 3.9%). The company appears to be balancing growth investments with capital returns, though the pace of investment may not be enough to accelerate top-line growth meaningfully.
SA shows strong momentum characteristics with a score of 83/100. The stock has been trending above key moving averages, indicating solid demand from institutional buyers. Revenue growth data is not currently available, while a beta of 0.70 reflects its sensitivity to broader market moves. This level of momentum typically signals sustained investor confidence and favorable near-term price action.
With a stability score of 50/100, SA exhibits average financial resilience. Key stability metrics include a beta of 0.70. While the balance sheet is not a major concern, the stock is subject to typical market volatility and may experience sharper drawdowns during risk-off episodes.
SEABRIDGE GOLD INC's short interest score of 35/100 reveals significant bearish positioning, suggesting institutional investors are actively betting against the stock. Specific risk factors include small-cap liquidity risk. At $982M (small-cap), SA carries meaningful risk and is best suited for investors with high risk tolerance who have thoroughly evaluated the bear thesis.
SEABRIDGE GOLD INC is a small-cap company in the Mining sector, ranked #0 of 50 in its sector (100th percentile) and #2088 of 7,333 overall (72nd percentile). This top-quartile standing reflects exceptional competitive strength relative to Mining peers.
While SA currently exhibits a REDUCE profile, superior opportunities exist within the MINING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
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Improvement in Value (31) would have the largest impact on the composite score.
Div. Yield NaN% BELOW SECTOR MEDIAN
AUDIT DATA AS OF DEC 31, 2024 (Q3 FY2024)
We rate SEABRIDGE GOLD INC (SA) as a Reduce with a composite score of 49.5/100 at a current price of $37.01. The quantitative profile shows weakness across multiple dimensions, suggesting limited upside potential and elevated risk of underperformance relative to peers over the next 12 months.
The rating is primarily driven by strength in momentum (83th percentile) and investment (59th percentile), which together account for the majority of the composite score. Offsetting weakness in value (31th percentile) and quality (33th percentile) tempers our overall conviction. We assign a No Moat rating (17/100), Low uncertainty, and Poor capital allocation.
Key items to watch: quarterly earnings execution and sector-level competitive dynamics. Any material change in these dynamics could warrant a reassessment of our rating. The moat trend is stable, which suggests the competitive landscape is stable for now.
SEABRIDGE GOLD INC holds a top-quartile position (#0 of 50) within the Mining sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 49.5/100 places it at rank #2088 in our full 7,333-stock universe. At $982M in market capitalization, SEABRIDGE GOLD INC is a small-cap player in the Mining space, which limits certain scale advantages but may allow for more agile strategic execution.
Momentum indicators (83th percentile) are constructive regarding the near-term price trend. Revenue growth data is unavailable, limiting our ability to confirm whether momentum is fundamentally supported.
Margin data is not available for SEABRIDGE GOLD INC, which limits our assessment of the company's cost structure and operating efficiency. We rely on factor-based signals to infer business quality in the absence of detailed margin data.
At a current price of $37.01, SEABRIDGE GOLD INC is trading at a premium to fundamental value. Our value factor score of 31/100 reflects a composite assessment across multiple valuation metrics including price-to-earnings, price-to-book, EV/EBITDA, and price-to-sales ratios relative to both sector peers and the broader market. The premium valuation implies the market is pricing in significant future growth or quality improvements that are not yet fully reflected in current fundamentals.
Valuation multiples are not available for this company, which limits our ability to assess relative pricing. We rely more heavily on factor-based valuation signals in such cases.
Positive momentum (83th percentile) indicates institutional accumulation and favorable technical dynamics that tend to persist in the intermediate term.
The Reduce rating (composite 49.5/100) reflects multi-factor weakness, and historically, stocks in this scoring range have underperformed the market by a meaningful margin.
Below-average quality (33th percentile) raises durability concerns about the fundamental profile and increases the risk of negative earnings surprises.
We assign a Low uncertainty rating to SEABRIDGE GOLD INC. The company exhibits strong financial stability with a beta of 0.70, and a stability factor in the 50th percentile. The predictable nature of the business model and solid financial position reduce the range of potential outcomes, giving us confidence in our fair value estimate.
Specific risk factors that inform our assessment include: weak quality scores (33th percentile). Each of these factors independently widens the distribution of potential outcomes, and in combination they create a risk profile that demands careful position sizing. The stability factor at the 50th percentile and quality factor at the 33th percentile provide a quantitative summary of the overall risk landscape.
We identify limited risk mitigants at this time, which contributes to our low uncertainty assessment. Investors should monitor for improvement in balance sheet metrics, margin stability, and business predictability that could warrant a downgrade in our risk assessment over time.
We rate SEABRIDGE GOLD INC's capital allocation as Poor. Key concerns include weak asset returns (ROA -8.6%). Exemplary capital allocators generate ROE above 20% and maintain conservative leverage — SEABRIDGE GOLD INC significantly underperforms these benchmarks, raising questions about management's ability to create shareholder value.
Investors should scrutinize management's reinvestment decisions and balance sheet trajectory before committing capital. Poor capital allocation often compounds over time: overlevered balance sheets limit strategic flexibility, while low returns on capital destroy shareholder value. We would need to see sustained improvement in profitability metrics and balance sheet discipline before considering an upgrade.
In summary, SEABRIDGE GOLD INC receives a Reduce rating with a composite score of 49.5/100 (rank #2088 of 7,333). Our quantitative framework assigns a No Moat (17/100, trend: stable), Low uncertainty, and Poor capital allocation. The average factor score across quality, value, momentum, stability, and investment is 51/100.
Our analysis does not support a constructive view on SEABRIDGE GOLD INC at this time. The combination of limited competitive advantages, low uncertainty, and poor capital allocation suggests unfavorable risk-reward at current levels. We recommend investors avoid new positions and existing holders consider reducing exposure.
Analysis derived from Blank Capital Research quantitative terminal. For informational purposes only. No trade solicitation. Past performance not indicative of future results. Consult a qualified advisor.
We do not assign SEABRIDGE GOLD INC a meaningful economic moat, scoring 17/100 on our composite assessment. Current fundamentals do not demonstrate the kind of durable competitive advantages — such as superior returns on invested capital, margin superiority, or reinvestment efficiency — that would protect the company from competitive erosion over the long term. The highest-scoring pillar, margin superiority, reached only 10/20.
The strongest moat sources are margin superiority (10/20) and economic value creation (5/20). GM N/A vs sector 43%, OM N/A vs sector 12%. Insufficient data for ROIC calculation. These pillars form the core of SEABRIDGE GOLD INC's competitive identity and are the primary drivers of excess returns in our framework.
Areas of relative weakness include reinvestment efficiency (0/20) and financial resilience (0.6/20). Capital turnover N/A. Improvement in these areas could meaningfully widen the moat over time, while deterioration would be an early warning of competitive erosion.
Our moat trend assessment is Stable. Multi-year ROIC and operating margin trajectories show neither meaningful improvement nor deterioration, suggesting the competitive position is steady. We expect SEABRIDGE GOLD INC's moat profile to remain largely unchanged absent a material shift in return on capital or industry dynamics.
Key profit drivers are not clearly identifiable from current fundamentals. This may reflect a company in transition, a cyclical downturn, or structural challenges in the business model. We assign a quality factor of 33/100 which further underscores our concern regarding earnings sustainability.
Return metrics include ROA of -8.6%. Relative to the Mining sector, sector comparison data is limited.
Balance sheet data is limited, restricting our assessment of financial resilience. Investors should seek additional disclosure on leverage and liquidity before forming a complete view of financial health.
Gold prices rose significantly, reaching near record highs, following the U.S. capture of Venezuelan President Nicolás Maduro, which heightened geopolitical tensions and spurred demand for safe-haven assets. Companies like Newmont Corp., Rusoro Mining Ltd., and Seabridge Gold Inc. experienced a surge in share prices as investors shifted focus to gold and silver, anticipating further price increases due to ongoing geopolitical instability and expectations of U.S. interest rate cuts. The article highlights how this event underscores the role of precious metals during uncertain times and details the performance and prospects of key gold mining companies.
Seabridge Gold Inc. (SA) released its 2025 year-end report detailing operations, exploration, and corporate initiatives, highlighting advancements at the KSM project and the planned spin-out of Courageous Lake. An analyst from B. Riley boosted Seabridge Gold's price objective to $65, maintaining a Buy rating, citing current joint venture talks, KSM project progress, and rising gold prices. The company specializes in gold property acquisition and exploration.
Seabridge Gold's stock increased by 12.4% following its announcement to spin off the Courageous Lake project into a new company, Valor Gold Corp. This move, which will distribute Valor shares to Seabridge shareholders, aims to clarify the value of its assets and is expected to include a shareholder vote by June 2026 and trading commencement for Valor before the end of Q2, pending approvals. The company will also fund Valor with C$10 million and appoint Mark J. Ashley as CEO.
Seabridge Gold (NYSE: SA) has announced an update on its plan to spin out the Courageous Lake gold project into a new company, Valor Gold. A shareholder meeting for approval is anticipated in June 2026, with Valor Gold expected to be funded with C$10 million at spin-out and plans for listings on the TSX and OTCQB, and potentially NYSE. Mark J. Ashley has been tapped to serve as CEO of Valor Gold, which aims to advance exploration of the significant 11 million ounce Measured & Indicated resource project.
Seabridge Gold Inc. is providing an update on its plan to spin out its Courageous Lake gold project into a new entity called Valor Gold Corp. The spin-out, expected to be completed by Q2 2026, will involve distributing Valor shares to Seabridge shareholders and seeking listings on the TSX and OTCQB. Mark J. Ashley has been appointed as the CEO of Valor, which will receive C$10 million to fund future work programs aimed at developing the project's significant gold resources.
Above 50MA
37.18%
Net New Highs
+51081