SA
Seabridge Gold Inc.Basic Materials·Gold
$34.11
$3.7B market cap
Revenue
$0.0M
Free Cash Flow
$-83.5M
Rev Growth
+0.0%
FCF Margin
0.0%
P/FCF
--
EV/FCF
--
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Seabridge Gold Inc., together with its subsidiaries, 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; Courageous Lake property situated in Northwest Territories, Canada; Snowstorm project located in the Nevada; and 3 Aces project located in the Yukon Territory. The com
2-Year Price History
$29.93+106.0%
Quarterly Financials & Projections
Quarterly Waterfall (CAD M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 0.0 | -6.1 | -6.2 | -6.7 | -4.3 | -26.7 | -22.4 | 145.0 | 561.1 | 107.1 | -1.9% | -875.1x | -- |
| Act | 2025-Q4 | 0.0 | -8.0 | -8.1 | -43.8 | -8.1 | -56.8 | -48.7 | 126.2 | 599.8 | 104.2 | -2.2% | -34.3x | -- |
Valuation & Metrics
Market Stats
Price$34.11
Market Cap$3.7B
Enterprise Value$5.5B
P/S Ratio0.0x
P/FCF--
EV/FCF--
FCF Margin (TTM)0.0%
FCF Yield-1.7%
Dividend Yield (TTM)--
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$0.0M
Net Income$-50.4M
Free Cash Flow$-83.5M
Revenue Growth (YoY)+0.0%
EBITDA Margin0.0%
Net Margin0.0%
FCF Margin0.0%
CapEx % of Revenue0.0%
SBC % of Revenue0.0%
ROIC-2.0%
WC Change % Rev0.0%
Interest Coverage-58.7x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares4.2M
Days to Cover5.8
Change (vs Prior)+5.4%
Need at least 2 settlement dates for chart
Employees
Headcount12
Revenue / Employee$0
Gross Profit / Employee$-7,503
Cash Runway
20.9months
WATCH
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
33.9%(+21.8% YoY)
180 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
4.1%(+3.8% YoY)
8 filers
Vanguard, iShares, SPDR
Market makers
1.0%(+0.7% YoY)
7 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| Kopernik Global Investors, LLC | $208M | $12.83 | +$10.0M | −$286K | +3.3% | $1.43B |
| VAN ECK ASSOCIATES CORP | $185M | $23.02 | −$17.5M | +$101M | +0.8% | $133.17B |
| Tidal Investments LLC | $115M | $18.70 | −$2.8M | +$24.1M | -0.2% | $32.04B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $73.3M | $28.34 | +$73.2M | +$73.3M | — | $4.04T |
| CIBC WORLD MARKET INC. | $62.7M | $15.70 | +$862K | +$28.0M | -0.0% | $56.92B |
| MORGAN STANLEY | $55.4M | $20.61 | +$37.0M | +$36.0M | -0.3% | $1.65T |
| ONTARIO TEACHERS PENSION PLAN BOARD | $47.2M | $14.56 | +$0 | +$9.1M | +0.8% | $3.37B |
| RAYMOND JAMES FINANCIAL INC | $37.9M | $12.96 | −$782K | +$3.9M | -0.0% | $322.69B |
| TORONTO DOMINION BANK | $29.5M | $24.78 | +$463K | +$1.1M | -0.3% | $51.72B |
| CITADEL ADVISORS LLC | $22.8M | $17.02 | −$4.9M | +$10.6M | -0.4% | $138.22B |
| VANGUARD FIDUCIARY TRUST COPassive | $22.2M | $28.34 | +$22.2M | +$22.2M | — | $395.83B |
| VAN DEN BERG MANAGEMENT I, INC | $18.6M | $12.11 | −$1.4M | −$2.8M | +0.7% | $436M |
| BANK OF MONTREAL /CAN/ | $15.8M | $14.71 | −$290K | +$840K | -0.1% | $234.58B |
| Amundi | $14.9M | $12.46 | +$498K | −$9.0M | -0.2% | $366.88B |
| JANE STREET GROUP, LLCMM | $14.8M | $18.27 | −$17.8M | +$7.2M | -0.1% | $92.10B |
| DEUTSCHE BANK AG\ | $14.0M | $15.11 | +$325K | +$2.6M | -0.3% | $302.17B |
| ALPS ADVISORS INC | $12.6M | $12.86 | −$2.9M | −$806K | +0.2% | $21.23B |
| DIMENSIONAL FUND ADVISORS LPPassive | $12.5M | $17.72 | −$1.2M | +$1.4M | -0.4% | $480.92B |
| Crawford Fund Management, LLC | $12.3M | $13.91 | +$822K | −$1.5M | -1.5% | $307M |
| FMR LLC | $12.3M | $12.43 | +$0 | −$6.2M | -0.0% | $1.89T |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)NEUTRAL
Holders
+0.74%
avg per quarter
Holders (ex-self)
+0.72%
excl. this stock
Buyers (this Q)
-0.00%
73 buyers · $0.18B in
Sellers (this Q)
+0.20%
61 sellers · $0.16B out
alpha coverage: 92% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
+3.6%
how holders react when this stock falls
On quiet Qs
-5.6%
−10% to +10% baseline
On rallies (+10%+)
-6.4%
how they react when this stock rises
Holders' portfolio flow this Q
+6.4%
inflows — adds are organic
Sellers' portfolio flow this Q
+5.6%
Sellers grew AUM elsewhere — opinionated cut of this stock.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
+1.4%
Holder mid (any stock)
-1.1%
Holder rally (any stock)
-7.7%
Biggest decreases this quarter
JANE STREET GROUP, LLC−$17.8Mα-0.1VAN ECK ASSOCIATES CORP−$17.5Mα+0.8D. E. Shaw & Co., Inc.−$6.3Mα-0.3HATCH COVE CAPITAL, LLCexited−$5.2MCITADEL ADVISORS LLC−$4.9Mα-0.4ELEVATUS WELATH MANAGEMENTexited−$3.1MALPS ADVISORS INC−$2.9Mα+0.2Tidal Investments LLC−$2.8Mα-0.2NewEdge Advisors, LLCexited−$2.7MVAN DEN BERG MANAGEMENT I, INC−$1.4Mα+0.7
New buyers this quarter
Top-5 holders · 51.4%
Kopernik Global Investors, LLC--
VAN ECK ASSOCIATES CORP--
Tidal Investments LLC--
VANGUARD CAPITAL MANAGEMENT LLC--
CIBC WORLD MARKET INC.--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
VAN ECK ASSOCIATES CORP6.5MKopernik Global Investors, LLC7.3MTidal Investments LLC4.0MNATIONAL BANK OF CANADA /FI/110KCIBC WORLD MARKET INC.2.2MMORGAN STANLEY2.0MONTARIO TEACHERS PENSION PLAN BOARD1.7MRAYMOND JAMES FINANCIAL INC1.3MPAULSON & CO. INC.—SPROTT INC.49K
Analyst Coverage
Analyst Coverage
Analyst Ratings
4
Buy: 4Consensus: Buy
Corporate
Order Flow (FINRA, ~3w lag)
24.1%retail-1.1pp
22.0%dark+2.9pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.