Research / Stock / SA
S
SA
SEABRIDGE GOLD INC
35.03
+2.00 +6.06%
close 2026-08-25
SA reports no free cash flow we can read, so this model is discounting net income instead. That is a different model — net income carries non-cash charges and ignores capital spending — and its answer should be read as a rougher one.
Assumptions
18.0%
Market-implied growth can't be solved here (base FCF is not positive).
No trailing FCF growth rate — the series crosses zero or is too short, and a CAGR through a negative is not a number worth printing.
10 yrs
3.00%
9.06%
9.1% derived for this company beta 0.97 (1232d vs the S&P 500) · cost of equity 9.1% = 4.7% risk-free + 0.97 × 4.5% premium · treated as all-equity effective tax rate unusable; US statutory 21% assumed; cost of debt not derivable; risk-free + 1.5pts assumed; no market cap; capital structure assumed all-equity
Fair value
$-22.21
-163.4%
OvervaluedCurrent price $35.03Enterprise value -2.0B
Bear $-32.21 (13.0% growth)Bull $-15.22 (23.0%)
Today's market price is above even the bull case · band = your growth ±5pts, same model
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Present value of each projected year, Y1–Y10
30% the 10 forecast years70% terminal value
Same industry · Gold Mining · trailing P/E for context
NEMP/E 21149.8Bthis P/E: —