I have no prior or existing relationship with the mgmt. team or the Company (Seabridge Gold). $SA $SEA.T I wrote this article as I’m a shareholder. gold #copper 255 million gold equiv. ounces here !! By contrast, Angico Eagle has 135M Au Eq. ounces. The in-situ value of Seabridge’s metals is C$1 trillion. Check it out!
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Belatedly, I stumbled onto the preceding post, and I got wondering how an investor might have fared had he or she acted on the pitch made for SA, especially since a fundie site I trust pans it.
FinViz identifies 48 peers for Seabridge. So it seemed reasonable to benchmark SA against them. Into that group, I also dumped the two ETFs that track the gold miners, GDX and GDXJ, and then ranked the list by their trailing 1-yr performance. SA ranked 34th in the group, whereas GDX and GDXH ranked 31st and 29nd, resp.
In other words, buying SA offered no better a lookback return than just buying an index fund for the industry. Worse, SA’s avg monthly volatility was 5.97& compared with GDX’x and GDXJ’s lesser avg monthly volatilities of 3.51$ and 4.05%, resp.
Yep. SA was the wining combo of less return and greater grief than just indexing the industry. So much for the pitch to buy it, and here’s its very sucky fundamentals.
