Snowline Gold (CVE:SGD) Reaches New 12-Month High – Here’s Why

Snowline Gold Corp. (CVE:SGD) shares hit a new 52-week high during trading on Wednesday . The company traded as high as C$8.95 and last traded at C$8.88, with a volume of 76376 shares changing hands. The stock had previously closed at C$8.68.

Wall Street Analyst Weigh In

Several research firms have weighed in on SGD. BMO Capital Markets set a C$17.50 price objective on Snowline Gold and gave the stock an “outperform” rating in a research report on Wednesday, April 9th. Desjardins set a C$11.00 price target on Snowline Gold and gave the stock a “buy” rating in a research report on Tuesday, February 25th. Scotiabank decreased their price target on Snowline Gold from C$9.50 to C$8.50 in a research report on Wednesday, January 15th. Finally, National Bank Financial raised shares of Snowline Gold to a “strong-buy” rating in a research report on Thursday, April 3rd.

Snowline Gold Trading Down 1.4 %

The company has a market cap of C$1.39 billion, a P/E ratio of -79.25 and a beta of 0.81. The company has a 50 day moving average price of C$7.32 and a 200-day moving average price of C$6.07.

About Snowline Gold

Snowline Gold Corp. explores and develops gold properties in Canada. The company also explores for silver, zinc, nickel, vanadium, copper and molybdenum. Its flagship project is the Rogue gold project, which consists of 4,580 mineral claims covering an area of approximately 94,397 hectares located in the Selwyn Basin, Yukon Territory.