Snowline Gold (CVE:SGD) Hits New 1-Year High – Here’s Why

Snowline Gold Corp. (CVE:SGD) shares reached a new 52-week high on Monday . The company traded as high as C$8.41 and last traded at C$8.38, with a volume of 283728 shares. The stock had previously closed at C$8.17.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SGD. CIBC dropped their price objective on shares of Snowline Gold from C$9.00 to C$7.00 in a research note on Monday, December 2nd. Scotiabank cut their target price on Snowline Gold from C$9.50 to C$8.50 in a research report on Wednesday, January 15th. Finally, Desjardins set a C$11.00 price target on Snowline Gold and gave the company a “buy” rating in a research report on Tuesday, February 25th.

Snowline Gold Stock Down 0.8 %

The business has a 50-day moving average price of C$6.17 and a two-hundred day moving average price of C$5.66. The company has a market cap of C$1.35 billion, a P/E ratio of -77.12 and a beta of 0.81.

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.