Snowline Gold (CVE:SGD) Hits New 52-Week High – Should You Buy?

Snowline Gold Corp. (CVE:SGD) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$8.95 and last traded at C$8.88, with a volume of 76376 shares traded. The stock had previously closed at C$8.68.

Wall Street Analysts Forecast Growth

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

Snowline Gold Stock Performance

The company has a market capitalization of C$1.31 billion, a price-to-earnings ratio of -74.62 and a beta of 0.81. The business’s 50 day moving average price is C$7.43 and its two-hundred day moving average price is C$6.11.

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.