If you had to buy just one Canadian stock and hold it forever, you’d probably want something stable — something with long-term growth potential … something tied to real value, not just buzz or hype. That’s where Seabridge Gold (TSX:SEA) comes in. It might not be the most famous name on the TSX, but it quietly holds one of the most impressive collections of gold and copper resources in the world. And if you’re playing the long game, that matters a lot.
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About Seabridge
Seabridge Gold isn’t a mining Canadian stock in the traditional sense. It’s more of a development company. That means it doesn’t produce gold or copper yet, but it owns the rights to some of the biggest untapped deposits in North America. The most well-known of these is the KSM project in British Columbia’s Golden Triangle. KSM stands for Kerr-Sulphurets-Mitchell, the names of three massive mineral deposits that sit side by side. It’s one of the largest undeveloped gold-copper projects in the world, with proven and probable reserves of 47.3 million ounces of gold and 7.3 billion pounds of copper.
Now, gold and copper prices fluctuate, but when they rise, and they often do in times of uncertainty, Seabridge becomes much more valuable. In fact, gold recently hit a record high above US$2,400 per ounce. That gives a serious boost to Seabridge’s in-ground resources. But Seabridge isn’t just sitting on KSM and hoping for the best. In its most recent earnings report for the first quarter (Q1) of 2025, the Canadian stock showed progress across the board. Net income came in at $10.6 million, compared to a loss of $8.2 million during the same period last year. The company secured US$100 million in new financing, with US$20 million of that coming from a strategic investor. That means it now has more than $148 million in working capital.
More to come
There’s also the Iskut Project, which is also located in British Columbia. It’s earlier-stage but still promising, and Seabridge is investing in exploration and reclamation there, too. The Canadian stock launched a $12 million program focused on environmental cleanup and has already been recognized by British Columbia’s government for its efforts in responsible resource development. That kind of reputation helps, especially when operating in regions where social and environmental concerns matter.
Then there’s 3 Aces in the Yukon, Snowstorm in Nevada, and Courageous Lake in the Northwest Territories. Each of these properties adds more upside. The Canadian stock’s strategy is to expand its gold and copper resources faster than it issues shares. Over the last 20 years, it has grown its gold reserves by nearly five times more than its share count. That means each share represents more value, not less, which is rare these days.
Considerations
Still, it’s important to acknowledge that Seabridge isn’t for everyone. This isn’t a dividend stock. It’s not a defensive utility or a cash-flow machine. It’s a bet on the future. If you need regular income or quick returns, this probably isn’t the stock to buy. But if you believe in the long-term value of gold and copper, and you think the demand for both will rise as the world transitions to greener technologies and more financial uncertainty, then Seabridge could be one of the smartest long-term buys on the TSX.
What also makes it stand out is its clean balance sheet. No long-term debt, lots of cash, and tight share control. That’s a rare mix in the mining world. It means Seabridge can make moves without worrying about refinancing or collapsing margins. It can wait for the right time to strike a development deal or sell off part of a project at a good price.
Bottom line
So, if you asked me to put all my Canadian investing hopes into one stock and hold it without touching it for years, this would be the one. It’s built for the long haul. It’s tied to real, tangible resources that the world will always need. And it’s run with discipline, not flash.
