Is SA halal?
Seabridge Gold, Inc.
Doubtful
No clear verdict is possible for Seabridge Gold, Inc. — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 15 October 2026
Exchange
NYSE
Price
26
Day
-0.23%
Market cap
$2.77B
Industry
Gold
Sector
Basic Materials
What the company does
Seabridge Gold (Canada) is developing the huge KSM gold-copper project in British Columbia but does not yet mine. No revenue; funded by investors and seeking a partner to build the mine.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $396.03M ÷ 36-month average market cap $1.83B = 21.6%
21.6%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $67.23M ÷ 36-month average market cap $1.83B = 3.7%
3.7%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $2.77B.
For information (AAOIFI 3/1 note): cash + receivables are 5.9% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $25.74
- Arnold Van Den BergCentury Management$16.7M3.5%
Exited this quarter: Arnold Van Den Berg
All superinvestor portfoliosHalal stocks in the same industry
The largest halal stocks in Gold — for comparison.
Related articles
- Halal investingBlogThe "doubtful" category: film, music and scholarly disagreementWhy Netflix, Disney and Spotify are not on our halal list — yet not labelled "haram" either. How we handle a disputed question.
- Halal investingBlogWhy does a stock's halal status change?A stock that was halal yesterday can leave the list today. The four main reasons — and why none of them is a bug.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.