Equity Profile

SA

Seabridge Gold Inc.

UnknownUnknown$2.7B

Aug12Wed

Pre-Earnings Brief

UpcomingQ2-2026After Close5:00 PM EDT

Company Snapshot

Seabridge Gold Inc. is a gold exploration and development company focused on advancing its projects in North America....

Key Metrics to Watch

Gold Production

This metric is crucial as it directly impacts revenue and profitability, especially in a volatile gold market.

N/A

Cash Costs per Ounce

Understanding the cost of production helps gauge operational efficiency and profitability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

SA Q2-2026 Earnings Preview

Context

Company Snapshot

Seabridge Gold Inc. is a gold exploration and development company focused on advancing its projects in North America. With a market cap of $3 billion, its performance is closely tied to gold prices and investor sentiment in the mining sector.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

13%

Avg EPS Surprise

-129.02%

Avg Stock Reaction

+0.49%

Last Quarter Recap

In Q1-2026, Seabridge reported an EPS of -$0.04, matching analyst expectations but reflecting ongoing challenges. The stock saw a modest increase of 1.25% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautious ahead of the earnings report, given the company's recent struggles with earnings misses. The market is looking for any signs of improvement in production or cost management.

Bull Case

If Seabridge can show improved gold production and lower cash costs, it could reignite investor confidence and drive the stock higher.

Bear Case

Conversely, continued losses or lack of progress in exploration could lead to further declines in stock price, especially if gold prices remain weak.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current gold production level and how does it compare to previous quarters?

This will provide insight into operational performance and potential revenue generation.

What are the latest updates on exploration projects and their expected timelines?

Investors will be keen to understand the company's growth prospects and resource potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a turnaround in production, as recent operational adjustments could yield better results than anticipated.

Supporting Evidence

The options market is pricing a significant move, indicating expectations for volatility that could reflect underlying changes.

The recent uptick in gold prices may not be fully accounted for in current estimates, which could positively impact revenue.

Key Risk

If production levels exceed expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate centers around whether Seabridge can turn around its production issues and capitalize on gold market conditions.

Bull Confirmed If

A significant increase in gold production above previous quarters would confirm the bull case.

Bear Confirmed If

Continued losses or high cash costs would reinforce the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±16.98%

Historical Avg

±1.8%

Pricing rich

The options market is pricing in a significant move, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±17.0% while SA has averaged ±1.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

73.5%

Calls (214K)P/C Ratio: 0.38Puts (38K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Seabridge beats expectations, history suggests a potential stock increase of around 0.91%, confirming a positive outlook.

In-Line / Cautious

A cautious inline report may lead to muted reactions, as investors await clearer guidance on future performance.

Miss

If the company misses expectations again, history suggests a decline of approximately 0.24%, which could further shake investor confidence.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on gold production levels and any changes in cash costs.
2Details on exploration progress and potential new discoveries.
3Management's outlook on gold market conditions and pricing.
4Any commentary on cost management strategies and operational efficiencies.
5Responses to analyst questions regarding future growth plans.

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Company Snapshot

Seabridge Gold Inc. is a gold exploration and development company focused on advancing its projects in North America....

Key Metrics to Watch

Gold Production

This metric is crucial as it directly impacts revenue and profitability, especially in a volatile gold market.

N/A

Cash Costs per Ounce

Understanding the cost of production helps gauge operational efficiency and profitability.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

SA Q2-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

13%

Avg EPS Surprise

-129.02%

Avg Stock Reaction

+0.49%

Last Quarter Recap

In Q1-2026, Seabridge reported an EPS of -$0.04, matching analyst expectations but reflecting ongoing challenges. The stock saw a modest increase of 1.25% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Investors are cautious ahead of the earnings report, given the company's recent struggles with earnings misses. The market is looking for any signs of improvement in production or cost management.

Bull Case

If Seabridge can show improved gold production and lower cash costs, it could reignite investor confidence and drive the stock higher.

Bear Case

Conversely, continued losses or lack of progress in exploration could lead to further declines in stock price, especially if gold prices remain weak.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current gold production level and how does it compare to previous quarters?

This will provide insight into operational performance and potential revenue generation.

What are the latest updates on exploration projects and their expected timelines?

Investors will be keen to understand the company's growth prospects and resource potential.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for a turnaround in production, as recent operational adjustments could yield better results than anticipated.

Supporting Evidence

The options market is pricing a significant move, indicating expectations for volatility that could reflect underlying changes.

The recent uptick in gold prices may not be fully accounted for in current estimates, which could positively impact revenue.

Key Risk

If production levels exceed expectations, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core debate centers around whether Seabridge can turn around its production issues and capitalize on gold market conditions.

Bull Confirmed If

A significant increase in gold production above previous quarters would confirm the bull case.

Bear Confirmed If

Continued losses or high cash costs would reinforce the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±16.98%

Historical Avg

±1.8%

Pricing rich

The options market is pricing in a significant move, indicating that traders expect volatility around the earnings announcement.

Options are pricing ±17.0% while SA has averaged ±1.8% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.7%

30d HV

73.5%

Calls (214K)P/C Ratio: 0.38Puts (38K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Seabridge beats expectations, history suggests a potential stock increase of around 0.91%, confirming a positive outlook.

In-Line / Cautious

A cautious inline report may lead to muted reactions, as investors await clearer guidance on future performance.

Miss

If the company misses expectations again, history suggests a decline of approximately 0.24%, which could further shake investor confidence.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on gold production levels and any changes in cash costs.
2Details on exploration progress and potential new discoveries.
3Management's outlook on gold market conditions and pricing.
4Any commentary on cost management strategies and operational efficiencies.
5Responses to analyst questions regarding future growth plans.