Snowline Gold (CVE:SGD) Trading 3% Higher – Should You Buy?

Shares of Snowline Gold Corp. (CVE:SGD) were up 3% on Wednesday . The stock traded as high as C$16.12 and last traded at C$15.93. Approximately 334,054 shares traded hands during trading, an increase of 99% from the average daily volume of 168,067 shares. The stock had previously closed at C$15.47.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Scotiabank increased their target price on Snowline Gold from C$20.00 to C$25.00 in a report on Monday, January 26th. Canadian Imperial Bank of Commerce increased their price objective on Snowline Gold from C$17.50 to C$22.00 in a research note on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of C$18.10.

Snowline Gold Stock Up 3.0%

The business’s fifty day simple moving average is C$15.93 and its two-hundred day simple moving average is C$13.13. The company has a market cap of C$2.76 billion, a price-to-earnings ratio of -53.10 and a beta of 0.27.

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. The company was formerly known as Skyledger Tech Corp. and changed its name to Snowline Gold Corp. in February 2021. Snowline Gold Corp. was incorporated in 2017 and is headquartered in Vancouver, Canada.