Snowline Gold (CVE:SGD) Trading 9.2% Higher – Here’s What Happened

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

Analyst Upgrades and Downgrades

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

Snowline Gold Trading Up 3.1%

The stock has a fifty day simple moving average of C$11.72 and a 200-day simple moving average of C$9.75. The stock has a market cap of C$2.28 billion, a price-to-earnings ratio of -44.00 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.