Stonegate Capital Partners Initiates Coverage on Seabridge Gold Inc. (SA)

Group 1 - Stonegate Capital Partners has initiated coverage on Seabridge Gold Inc. (NYSE: SA) as of September 15, 2025 [1] - As of Q2 2025, Seabridge Gold reported cash and cash equivalents of $121.4 million, bolstered by a $100.2 million equity financing in February 2025 and a $30.5 million flow-through financing in June 2025 [1] - The company is focused on advancing its flagship KSM project and exploration at Iskut, 3 Aces, and Snowstorm [1] Group 2 - Seabridge Gold renewed its $750 million base shelf prospectus and $100 million ATM facility in early 2025 [1] - The company reported a Q2 net profit of $12.3 million ($0.12/share), a decrease from $45.2 million in Q2 2024, primarily due to the remeasurement of secured note liabilities [8] - Seabridge invested $21.1 million into projects during the quarter, and drilling at Iskut's Snip North confirmed a large copper-gold porphyry deposit, with a maiden resource estimate expected in early 2026 [8]