Seabridge Gold posted second-quarter net income of C$117.5M and earnings per share of C$1.08, according to [the company's second-quarter report filed August 13]. Year-over-year, net income rose eightfold from C$12.3M in the same period of 2025, when EPS stood at C$0.12.
The junior gold developer, which holds undeveloped mineral resources in British Columbia and Alaska, reported the jump as bullion prices stayed high through the first half of 2026. The company holds no producing mines; it carries value in its exploration stage assets and the metals they contain.
Seabridge's KSM project in Alaska holds measured and indicated mineral resources of 88M ounces of gold equivalent as of March 31, 2026. The company also controls the Iskut project in British Columbia. Both properties have remained in exploration and feasibility study phases.
Seabridge recognizes gains on its mineral inventory and financial holdings in periods when spot prices for gold and silver rise.
Gold prices averaged near USD 2,400 per ounce during the first half of 2026, compared with roughly USD 2,050 during the same period in 2025. Silver prices similarly gained over the year-to-date period.
Seabridge has not brought any of its projects into production. The company continues to fund exploration and permitting work through cash on hand and periodic equity raises. The jump in net income stems from revaluation of the company's asset base in response to rising precious metals prices.
The earnings comparison runs across two very different commodity price environments. At C$0.12 EPS in Q2 2025, the company was operating with gold near the lower end of its recent range. The C$1.08 result follows nine months of higher prices and stronger financial positioning on the company's exploration assets.
