Seabridge Gold Inc. (NYSE:SA) Technical Momentum Points Toward Near-Term Upside

Seabridge Gold presents a constructive near-term setup supported by WMDST valuation, while cash strength and elevated leverage create a mixed fundamental backdrop. Technical indicators suggest upside bias but warrant caution from momentum rollover signals.

Recent News

On November 12, 2025 the company filed its third-quarter 2025 Report to Shareholders, interim financial statements and MD&A, noting continued KSM field activities, a 24,000‑metre drill program at Iskut that confirmed a new porphyry at Snip North, and court hearings on petitions challenging KSM’s substantially‑started designation.

In September 2025 several analysts adjusted coverage: Wall Street Zen upgraded the rating to Hold on September 13, and Zacks Research raised its rating to Hold in mid‑September; coverage remained mixed through October with a Weiss Ratings Sell (D) on October 9.

SEC/13F and filings activity in mid‑November 2025 reported that Paulson & Co. exited its position in Seabridge during Q3 2025.

Technical Analysis

ADX at 14.77 signals no dominant trend; directional indicators tilt bullish as DI+ shows a dip-and-reversal while DI- decreases, creating a short-term directional advantage that supports a near-term upside bias for the stock relative to its current valuation.

MACD sits at 0.27 with a 0.25 signal line; the MACD currently trades slightly above the signal line, producing a short-term bullish crossover, but the MACD trend registers a peak-and-reversal, indicating momentum has begun to roll over and warrants guarded optimism for continuation.

MRO at 2.02 with an increasing trajectory implies the price sits modestly above WMDST’s target and faces some potential downward pressure if momentum falters; that over-target signal counters some of the bullish directional readings.

RSI at 56.19 with a dip-and-reversal indicates renewed buying interest without overbought extremes, aligning with the DI+ reversal and supporting a measured upside over the coming weeks.

Price sits at $23.98, above the 200‑day average of $16.15 and near the 20‑day average of $23.63; the 12‑day EMA shows a peak-and-reversal, pointing to short-term cooling even as medium‑term averages remain supportive. Bollinger bands place the price inside the 1× band range ($22.54–$24.72), implying limited immediate volatility expansion. SuperTrend lower support appears near $22.26, and volume currently runs slightly above the 10‑day average but below longer-term averages, suggesting conviction remains modest.

 


Fundamental Analysis

Profitability and earnings: EPS came in at -$0.32 versus an estimate of -$0.04, yielding an EPS surprise of -700.0%. WMDST notes persistent negative net income of -$32,270,000 and negative EBIT of -$27,616,000, reflecting ongoing operating losses that weigh on near-term earnings improvement prospects.

Cash and liquidity: Cash at $103,104,000 and cash plus short‑term investments of $111,285,000 provide significant liquidity. The current ratio stands at 2.99, above the industry peer mean of 2.27016, and the cash ratio of 2.67 indicates strong short‑term coverage of liabilities—factors that support operational flexibility while projects advance.

Capital structure: Total debt equals $584,436,000 with net debt of $480,032,000; debt‑to‑assets at 34.239% sits above the industry peer mean of 12.406%, and debt‑to‑equity at 0.553 is above the industry peer mean of 0.23015, indicating higher leverage versus peers despite ample cash on the balance sheet.

Returns and cash flow: Return on equity registers -3.054% and return on assets -1.926%, both below industry peer means; operating cash flow remains negative at -$29,510,000 and free cash flow stands at -$54,970,000, although free cash growth shows meaningful sequential improvement versus prior periods.

Valuation metrics: Price‑to‑book sits at 2.13, beneath the industry peer mean of 3.09805 and below the peer median of 2.58476, while the forward P/E remains negative. WMDST values the stock as under‑valued, driven by asset base, project optionality and cash reserves, but the valuation case must account for operating losses and elevated leverage.

MOST-RECENT QUARTERLY REPORT
REPORT PERIOD ENDING: 2025-09-30
REPORT DATE: 2025-11-12
NEXT REPORT DATE: 2026-02-11
CASH FLOW  Begin Period Cash Flow $ 121.4 M
 Operating Cash Flow $ -29.51 M
 Capital Expenditures $ -52.86 M
 Change In Working Capital $ 861.0 K
 Dividends Paid —
 Cash Flow Delta $ -18.28 M
 End Period Cash Flow $ 103.1 M
 
INCOME STATEMENT REVENUE
 Total Revenue —
 Forward Revenue —
COSTS
 Cost Of Revenue —
 Depreciation $ 19.0 K
 Depreciation and Amortization $ 19.0 K
 Research and Development —
 Total Operating Expenses $ 4.7 M
PROFITABILITY
 Gross Profit —
 EBITDA $ -27.60 M
 EBIT $ -27.62 M
 Operating Income $ -4.67 M
 Interest Income $ 1.5 M
 Interest Expense $ 143.0 K
 Net Interest Income $ 1.4 M
 Income Before Tax $ -27.76 M
 Tax Provision $ 4.5 M
 Tax Rate 15.0 %
 Net Income $ -32.27 M
 Net Income From Continuing Operations $ -32.27 M
EARNINGS
 EPS Estimate $ -0.04
 EPS Actual $ -0.32
 EPS Difference $ -0.28
 EPS Surprise -700.0 %
 Forward EPS $ -0.05
 
BALANCE SHEET ASSETS
 Total Assets $ 1.7 B
 Intangible Assets —
 Net Tangible Assets $ 1.1 B
 Total Current Assets $ 124.9 M
 Cash and Short-Term Investments $ 111.3 M
 Cash $ 103.1 M
 Net Receivables —
 Inventory —
 Long-Term Investments $ 22.1 M
LIABILITIES
 Accounts Payable $ 7.7 M
 Short-Term Debt —
 Total Current Liabilities $ 41.8 M
 Net Debt $ 480.0 M
 Total Debt $ 584.4 M
 Total Liabilities $ 650.2 M
EQUITY
 Total Equity $ 1.1 B
 Retained Earnings $ -227.28 M
VALUATION & PER-SHARE METRICS EQUITY & PER-SHARE METRICS
 Book Value Per-Share $ 10.18
 Shares Outstanding 103.842 M
 Revenue Per-Share —
VALUATION
 Market Capitalization $ 2.2 B
 Enterprise Value $ 2.7 B
 Enterprise Multiple -98.669
Enterprise Multiple QoQ -150.819 %
Enterprise Multiple YoY 137.033 %
Enterprise Multiple IPRWA high: 117.578
median: 26.722
mean: 23.831
SA: -98.669
low: -180.008
 EV/R —
CAPITAL STRUCTURE
 Asset To Equity 1.615
 Asset To Liability 2.625
 Debt To Capital 0.356
 Debt To Assets 0.342
Debt To Assets QoQ -2.464 %
Debt To Assets YoY 142562.5 %
Debt To Assets IPRWA high: 0.485
SA: 0.342
mean: 0.124
median: 0.103
low: 0.001
 Debt To Equity 0.553
Debt To Equity QoQ -2.364 %
Debt To Equity YoY 138160.0 %
Debt To Equity IPRWA high: 1.987
SA: 0.553
mean: 0.23
median: 0.17
low: 0.001
PRICE-BASED VALUATION
 Price To Book (P/B) 2.129
Price To Book QoQ 36.808 %
Price To Book YoY 18.855 %
Price To Book IPRWA high: 8.202
mean: 3.098
median: 2.585
SA: 2.129
low: 0.927
 Price To Earnings (P/E) -67.706
Price To Earnings QoQ -0.0 %
Price To Earnings YoY 22.75 %
Price To Earnings IPRWA high: 163.615
mean: 44.78
median: 41.717
SA: -67.706
low: -173.761
 PE/G Ratio —
 Price To Sales (P/S) —
Price To Sales QoQ —
Price To Sales YoY —
Price To Sales IPRWA —
FORWARD MULTIPLES
Forward P/E -369.39
Forward PE/G —
Forward P/S —
EFFICIENCY OPERATIONAL
 Operating Leverage —
ASSET & SALES
 Asset Turnover Ratio —
Asset Turnover Ratio QoQ —
Asset Turnover Ratio YoY —
Asset Turnover Ratio IPRWA —
 Receivables Turnover —
Receivables Turnover Ratio QoQ —
Receivables Turnover Ratio YoY —
Receivables Turnover Ratio IPRWA —
 Inventory Turnover —
Inventory Turnover Ratio QoQ —
Inventory Turnover Ratio YoY —
Inventory Turnover Ratio IPRWA —
 Days Sales Outstanding (DSO) —
CASH CYCLE
 Cash Conversion Cycle Days (CCC) —
Cash Conversion Cycle Days QoQ —
Cash Conversion Cycle Days YoY —
Cash Conversion Cycle Days IPRWA —
CAPITAL DEPLOYMENT
 Cash Conversion Ratio —
 CapEx To Revenue —
 CapEx To Depreciation -2782.316
 
CAPITAL, LIQUIDITY & COVERAGE CAPITAL STRUCTURE
 Total Capital $ 1.6 B
 Net Invested Capital $ 1.6 B
 Invested Capital $ 1.6 B
 Net Tangible Assets $ 1.1 B
 Net Working Capital $ 83.2 M
LIQUIDITY
 Cash Ratio 2.665
 Current Ratio 2.992
Current Ratio QoQ -29.412 %
Current Ratio YoY 31.036 %
Current Ratio IPRWA high: 12.496
SA: 2.992
mean: 2.27
median: 2.039
low: 0.232
 Quick Ratio —
Quick Ratio QoQ —
Quick Ratio YoY —
Quick Ratio IPRWA —
COVERAGE & LEVERAGE
 Debt To EBITDA -21.178
 Cost Of Debt 0.021 %
 Interest Coverage Ratio -193.119
Interest Coverage Ratio QoQ -393.471 %
Interest Coverage Ratio YoY 73.058 %
Interest Coverage Ratio IPRWA high: 49.212
median: 34.164
mean: 31.688
SA: -193.119
low: -194.931
 Operating Cash Flow Ratio -0.707
TIMING / LIQUIDITY
 Days Payables Outstanding (DPO) —
DIVIDENDS
 Dividend Coverage Ratio —
 Dividend Payout Ratio —
 Dividend Rate —
 Dividend Yield —
PERFORMANCE GROWTH
 Asset Growth Rate 3.8 %
 Revenue Growth —
Revenue Growth QoQ —
Revenue Growth YoY —
Revenue Growth IPRWA —
 Earnings Growth 0.0 %
Earnings Growth QoQ —
Earnings Growth YoY -100.0 %
Earnings Growth IPRWA high: 257.143 %
mean: 24.875 %
median: 19.58 %
SA: 0.0 %
low: -150.0 %
MARGINS
 Gross Margin —
Gross Margin QoQ —
Gross Margin YoY —
Gross Margin IPRWA —
 EBIT Margin —
EBIT Margin QoQ —
EBIT Margin YoY —
EBIT Margin IPRWA —
 Return On Sales (ROS) —
Return On Sales QoQ —
Return On Sales YoY —
Return On Sales IPRWA —
CASH FLOW
 Free Cash Flow (FCF) $ -54.97 M
 Free Cash Flow Yield -2.443 %
Free Cash Flow Yield QoQ 56.603 %
Free Cash Flow Yield YoY 28.241 %
Free Cash Flow Yield IPRWA high: 4.504 %
mean: 1.95 %
median: 1.829 %
SA: -2.443 %
low: -7.163 %
 Free Cash Growth 122.209 %
Free Cash Growth QoQ 119.552 %
Free Cash Growth YoY 306.266 %
Free Cash Growth IPRWA high: 537.296 %
SA: 122.209 %
mean: 15.987 %
median: 1.513 %
low: -251.799 %
 Free Cash To Net Income 1.703
 Cash Flow Margin —
 Cash Flow To Earnings 0.914
VALUE & RETURNS
 Economic Value Added $ 0.03
 Return On Assets (ROA) -1.926 %
Return On Assets QoQ -353.088 %
Return On Assets YoY -0.824 %
Return On Assets IPRWA high: 6.16 %
median: 3.335 %
mean: 3.163 %
SA: -1.926 %
low: -14.746 %
 Return On Capital Employed (ROCE) -1.658 %
 Return On Equity (ROE) -0.031
Return On Equity QoQ -352.397 %
Return On Equity YoY -4.353 %
Return On Equity IPRWA high: 0.115
median: 0.055
mean: 0.049
SA: -0.031
low: -0.432
 DuPont ROE —
 Return On Invested Capital (ROIC) -1.431 %
Return On Invested Capital QoQ -356.452 %
Return On Invested Capital YoY -102.929 %
Return On Invested Capital IPRWA high: 9.171 %
mean: 5.174 %
median: 4.597 %
SA: -1.431 %
low: -7.136 %

Six-Week Outlook

Expect range‑bound trading with an upside bias if directional indicators hold: the DI+ reversal and RSI recovery support a continuation toward the $24–$26 area, while MACD’s peak‑and‑reversal and a positive MRO imply risk of a short‑term pullback. Liquidity strength reduces downside tail risk, but elevated leverage and persistent operating losses keep rallies susceptible to momentum exhaustion. Monitor MACD direction and MRO movement for confirmation of follow‑through; a sustained move above the 20‑day average with rising volume would increase the probability of the upside scenario, while renewed MACD deterioration would favor consolidation near recent support levels.

About Seabridge Gold Inc.

Seabridge Gold Inc. (NYSE:SA) acquires and explores mineral properties in North America, with a primary emphasis on gold. The company actively investigates potential deposits of gold, copper, silver, and molybdenum. Seabridge Gold’s portfolio includes several significant projects, such as the KSM Project in British Columbia, which ranks among the world’s largest undeveloped gold projects. Established in 1979 and headquartered in Toronto, Canada, Seabridge Gold focuses on increasing its resource base through exploration and strategic acquisitions. By advancing its projects through various stages of development, the company aims to enhance shareholder value. Seabridge Gold’s commitment to responsible mining practices underscores its operations, ensuring environmental stewardship and community engagement. The company continues to evaluate opportunities to expand its asset base and strengthen its position in the precious metals sector.



© 2025 WMDST — The World’s Most Dangerous Swing Trader. All rights reserved.