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Advances the large KSM and Iskut gold-copper projects in northwestern British Columbia.
Advances the large KSM and Iskut gold-copper projects in northwestern British Columbia.
Has no mine revenue; it pays for engineering and permitting by raising money from shareholders, so its value rests on the gold and copper in the ground and the permits behind them. KSM would need a very large construction budget, which is why Seabridge talks of bringing in a partner to build it.
Moat: narrow (installed base). Owns one of the world's largest undeveloped gold-copper deposits, though pre-construction.
Headquarters: Toronto, Canada · Founded: 1999 · Employees: 50
Size Seabridge Gold (SEA.TO) is a Canada Materials company (Precious Metals) with a market value of $2.87B, the 162nd largest of 420 Canada companies the cockpit tracks. Shares closed at C$37.25 on 6 Nov 2026.
Performance Over six months the shares fell 8.1%, against -16.8% for the median peer and +5.2% for the Canada market (cap-weighted) — 9th highest of 21 in its peer set.
Valuation It trades at 3.63× book value against a peer median of 3.32× (9th most expensive of 21).
Price implies The share price implies a return on equity of about 38.3%; Seabridge Gold delivers 3.3%, so the price asks more than the business earns today.
Next results Next results expected around 16 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | C$0 | C$0 | C$0 | C$0 | C$0 |
| Revenue growth | — | — | — | — | — |
| Gross profit | -C$181,000 | -C$232,000 | -C$386,000 | -C$385,000 | -C$156,000 |
| EBITDA | -C$28.1M | -C$22.0M | -C$21.5M | -C$17.3M | -C$22.7M |
| Net income | C$34.8M | -C$53.2M | -C$31.2M | -C$29.3M | -C$7.39M |
| Free cash flow | -C$175M | -C$152M | -C$120M | -C$252M | -C$206M |
| Capital expenditure | C$156M | C$137M | C$106M | C$230M | C$183M |
| Total debt | C$562M | C$600M | C$564M | C$575M | C$265M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Seabridge Gold SEA.TO | $2.87B | -8% | n/a | 3% | 3.63× | 38.3% |
| Newmont NEM | $126B | +4% | +23% | 27% | 3.53× | 19.7% |
| Silver Tiger Metals SLVR.TO | $344M | -12% | n/a | -4% | 1.97× | 28.7% |
| Ivanhoe Mines IVN.TO | $8.43B | -26% | +109% | 3% | 1.38× | 15.7% |
| Novagold Resources NG | $2.81B | -27% | n/a | -33% | 6.72× | 48.1% |
| Skeena Resources SKE.TO | $3.90B | +6% | n/a | -175% | 31.93× | 388.4% |
| Perpetua Resources PPTA | $2.44B | -35% | n/a | -38% | 3.39× | 14.4% |
| NGEx Minerals NGEX.TO | $3.37B | -15% | n/a | -45% | 10.88× | 116.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | SEA.TO | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -2.0% | -3.5% | 10th highest of 21 |
| 6-month return | -8.1% | -16.8% | 9th highest of 21 |
| Return on equity | 3.3% | 21.9% | 6th lowest of 21 |
| Price / book | 3.63× | 3.32× | 9th most expensive of 21 |
| Trailing P/E | 129.8× | 11.6× | most expensive of 16 |
| ROE the price implies | 38.3% | 25.5% | 7th most demanding of 21 |
| ROE delivered | 3.3% | 23.0% | 6th lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Seabridge Gold SEA.TO | Canada | $2.87B | -8% | n/a | 3% | 3.63× | 38.3% | 3.3% |
| Fortuna Mining FVI.TO | Canada | $2.87B | -5% | +6% | 23% | 1.61× | 21.1% | 23.0% |
| Wesdome Gold Mines WDO.TO | Canada | $2.92B | +6% | +49% | 47% | 4.03× | 21.9% | 47.4% |
| Novagold Resources NG | United States | $2.81B | -27% | n/a | -33% | 6.72× | 48.1% | -32.8% |
| Lingbao Gold 3330.HK | Hong Kong | $2.94B | -28% | -10% | 30% | 2.55× | 16.8% | 30.4% |
| West African Resources WAF.AX | Australia | $2.74B | +4% | +194% | 38% | 2.01× | 19.3% | 37.6% |
| Emerald Resources NL EMR.AX | Australia | $3.04B | +6% | +40% | 33% | 4.79× | 35.9% | 33.1% |
| Predictive Discovery PDI.AX | Australia | $3.08B | -13% | n/a | -7% | 2.71× | 19.2% | -7.4% |
| Allied Gold AAUC.TO | Canada | $3.24B | -19% | +54% | -14% | 5.77× | 31.4% | -14.0% |
| Aris Mining ARIS.TO | Canada | $3.24B | -15% | +94% | 21% | 1.81× | 23.3% | 20.8% |
| Sichuan Gold 001337.SZ | China | $2.52B | -25% | +57% | 33% | 7.70× | 79.2% | 33.2% |
| Western Region Gold 601069.SS | China | $3.29B | -26% | +118% | 10% | 4.27× | 39.7% | n/a |
| Perpetua Resources PPTA | United States | $2.44B | -35% | n/a | -38% | 3.39× | 14.4% | -37.8% |
| Shandong Humon Smelting 002237.SZ | China | $2.44B | -32% | +25% | 9% | 1.16× | 11.1% | 8.6% |
| Hochschild Mining HOC.L | United Kingdom | $3.37B | -27% | +37% | 37% | 3.48× | 25.6% | 37.4% |
| Regis Resources RRL.AX | Australia | $3.49B | -3% | +43% | 38% | 2.30× | 25.4% | 37.7% |
| Endeavour Silver EDR.TO | Canada | $2.34B | -20% | +198% | 10% | 3.24× | 44.6% | 10.4% |
| Westgold Resources WGX.AX | Australia | $3.64B | -2% | +79% | 20% | 2.21× | 17.1% | 20.4% |
| Aya Gold & Silver AYA.TO | Canada | $3.68B | +40% | +265% | 25% | 7.41× | 68.5% | 25.4% |
| Pan African Resources PAF.L | United Kingdom | $3.79B | -25% | +106% | 45% | 3.00× | 26.4% | 45.0% |
| Skeena Resources SKE.TO | Canada | $3.90B | +6% | n/a | -175% | 31.93× | 388.4% | -175.2% |