Snowline Gold (CVE:SGD) Sets New 52-Week High – What’s Next?

Snowline Gold Corp. (CVE:SGD)’s share price reached a new 52-week high during mid-day 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 Analysts Forecast Growth

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

Snowline Gold Stock Performance

The firm has a market capitalization of C$1.39 billion, a price-to-earnings ratio of -79.25 and a beta of 0.81. The company has a 50-day moving average of C$7.32 and a 200-day moving average 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.