Snowline Gold (CVE:SGD) Trading 3% Higher – Time to Buy?

Snowline Gold Corp. (CVE:SGD)’s share price rose 3% during mid-day trading on Thursday . The company traded as high as C$16.12 and last traded at C$15.93. Approximately 334,054 shares changed hands during mid-day trading, an increase of 99% from the average daily volume of 168,067 shares. The stock had previously closed at C$15.47.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Scotiabank upped their price objective on shares of Snowline Gold from C$20.00 to C$25.00 in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce raised their target price on Snowline Gold from C$17.50 to C$22.00 in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$19.88.

Snowline Gold Price Performance

The company has a market cap of C$2.76 billion, a PE ratio of -53.10 and a beta of 0.27. The business has a 50 day moving average of C$15.93 and a 200 day moving average of C$13.88.

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. 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.