Snowline Gold (CVE:SGD) Hits New 1-Year High – What’s Next?

Snowline Gold Corp. (CVE:SGD) reached a new 52-week high on Wednesday . The stock traded as high as C$6.90 and last traded at C$6.94, with a volume of 170802 shares trading hands. The stock had previously closed at C$6.64.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SGD shares. Scotiabank lowered their price target on Snowline Gold from C$9.50 to C$8.50 in a report on Wednesday, January 15th. Desjardins set a C$11.00 price target on Snowline Gold and gave the company a “buy” rating in a report on Tuesday, February 25th. Finally, CIBC lowered their price target on Snowline Gold from C$9.00 to C$7.00 in a report on Monday, December 2nd.

Snowline Gold Trading Up 6.7 %

The stock has a market capitalization of C$1.24 billion, a PE ratio of -70.64 and a beta of 0.81. The firm has a 50 day moving average price of C$5.73 and a 200 day moving average price of C$5.51.

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.