Is OR or SA more undervalued in 2026?

CirclFi compares OR Royalties Inc. (OR) and Seabridge Gold, Inc. (SA) using 13 institutional-grade valuation models. OR has a Quality of Company score of 3.1/10 while SA scores 1.7/10.

Which is a better buy — OR or SA?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do OR and SA valuations compare?

OR at $35.87 and SA at $32.32 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

OR vs SA Valuation Comparison 2026 — Intrinsic Value Analysis

OR

Gold

OR Royalties Inc.

Quality

3.1

out of 10

Value Trap

—

Price

$35.87

Last close

Models

13/13

Active

SA

Gold

Seabridge Gold, Inc.

Quality

1.7

out of 10

Value Trap

—

Price

$32.32

Last close

Models

10/13

Active

Model-by-Model Comparison

Model	Type	OR Fair Value	OR Upside	SA Fair Value	SA Upside
Bayesian DCF	Intrinsic	$7.94	-77.9%	$9.54	-70.5%
Earnings Power Value	Intrinsic	$6.33	-83.6%	$12.15	-59.6%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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OR vs SA — Which Stock Is More Undervalued?

OR scores higher with a 3.1/10 quality rating vs SA's 1.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing OR Royalties Inc. (OR) and Seabridge Gold, Inc. (SA) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

OR currently trades at $35.87 with a QOC of 3.1/10, while SA trades at $32.32 with a QOC of 1.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).