Snowline Gold (CVE:SGD) Trading Up 9.2% – Here’s Why

Snowline Gold Corp. (CVE:SGD)’s stock price rose 9.2% during mid-day trading on Wednesday . The stock traded as high as C$13.69 and last traded at C$13.15. Approximately 427,350 shares were traded during trading, an increase of 162% from the average daily volume of 163,035 shares. The stock had previously closed at C$12.04.

Wall Street Analyst Weigh In

SGD has been the subject of a number of analyst reports. CIBC upped their price target on Snowline Gold from C$14.00 to C$17.50 in a research report on Friday, October 10th. National Bankshares set a C$15.00 target price on shares of Snowline Gold and gave the stock an “outperform” rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$13.90.

Snowline Gold Stock Up 20.1%

The stock has a market cap of C$2.50 billion, a P/E ratio of -68.86 and a beta of 0.27. The business has a 50 day moving average price of C$11.63 and a two-hundred day moving average price of C$9.70.

Snowline Gold Company Profile

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.