SCHEDULE: Van Eck Associates Reports 6.95% Stake in Seabridge Gold

Van Eck Associates Corporation, an investment adviser, reported a 6.95% beneficial ownership stake in Seabridge Gold Inc. common shares as of December 31, 2025.

Summary

• Van Eck Associates Corporation, a Delaware-based investment adviser, has filed an Amendment No. 2 to Schedule 13G regarding its beneficial ownership in Seabridge Gold Inc.
• As of December 31, 2025, Van Eck Associates Corporation beneficially owned 7,264,903 common shares of Seabridge Gold Inc.
• This ownership represents 6.95% of the total class of common shares.
• Van Eck Associates Corporation holds sole voting power and sole dispositive power over all 7,264,903 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this filing as mildly positive. While a routine regulatory update, the continued significant stake by a specialized institutional investor like Van Eck Associates Corporation suggests ongoing confidence in Seabridge Gold Inc.

Positives

• A significant beneficial ownership stake (6.95%) by a prominent investment adviser like Van Eck Associates Corporation can signal institutional confidence in Seabridge Gold Inc.'s long-term prospects.
• The filing confirms that Van Eck Associates Corporation holds sole voting and dispositive power over its shares, indicating direct control over its investment decisions.

Future Outlook

The filing does not contain any forward-looking statements or guidance from Seabridge Gold Inc. or Van Eck Associates Corporation regarding future performance or strategic direction.

Management Comments

• Ashley Sousa, Assistant Vice President of Van Eck Associates Corporation, certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Industry Context

StockSavvy.ai notes that Van Eck Associates Corporation is a well-known investment manager with a strong focus on gold and precious metals, often managing ETFs and funds specializing in the sector. Their continued significant stake in Seabridge Gold Inc., a company primarily focused on gold exploration and development, underscores a sustained institutional interest in the gold market and potentially in Seabridge's specific project portfolio, such as its large-scale KSM project. This aligns with broader industry trends where institutional investors seek exposure to gold as a hedge against inflation or economic uncertainty.

Comparison to Industry Standards

• Van Eck Associates Corporation's 6.95% stake in Seabridge Gold Inc. is a substantial holding for an institutional investor, placing them among the top shareholders. For context, major institutional investors often hold significant positions in gold miners, with stakes ranging from 5% to over 10% in companies like Barrick Gold or Newmont Corporation, depending on the fund's mandate and the company's market capitalization.
• The concentration of ownership by a specialized investment adviser like Van Eck, known for its expertise in the gold sector, can be viewed favorably compared to a more diversified institutional holding, suggesting a deeper conviction in the company's specific assets and management.

Stakeholder Impact

• Shareholders: The continued significant institutional ownership by Van Eck Associates Corporation may provide a level of stability and confidence, potentially influencing other investors' perceptions of Seabridge Gold Inc.'s value.
• Management: The presence of a large, specialized institutional investor like Van Eck may encourage management to maintain strong corporate governance and strategic focus, knowing their decisions are under scrutiny by a sophisticated shareholder.

Key Dates

Recommendation

This Schedule 13G filing primarily serves as a regulatory disclosure of an institutional investor's stake and does not contain new operational or financial information that would warrant a change in investment thesis. However, the continued significant ownership by Van Eck Associates Corporation, a respected gold-focused investment firm, provides a degree of institutional validation for Seabridge Gold Inc., supporting a 'hold' recommendation for existing investors.

Keywords

Seabridge Gold Inc., Van Eck Associates Corporation, Schedule 13G, Beneficial Ownership, Common Shares, Gold Mining, Investment Adviser, Institutional Investor