Snowline Gold (CVE:SGD) Sets New 1-Year High – Here’s What Happened

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

Analysts Set New Price Targets

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

Snowline Gold Price Performance

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

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.