Snowline Gold (CVE:SGD) Sets New 12-Month High – What’s Next?

Snowline Gold Corp. (CVE:SGD) shares hit a new 52-week high on Wednesday . The stock traded as high as C$6.90 and last traded at C$6.94, with a volume of 170802 shares trading hands. The stock had previously closed at C$6.64.

Analyst Upgrades and Downgrades

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

Snowline Gold Trading Up 11.0 %

The firm has a market capitalization of C$1.19 billion, a price-to-earnings ratio of -68.23 and a beta of 0.81. The stock’s 50-day moving average is C$5.65 and its 200-day moving average is C$5.49.

Insider Transactions at Snowline Gold

In other news, Director Calum Macleod Morrison acquired 25,000 shares of the stock in a transaction dated Friday, December 6th. The stock was bought at an average price of C$5.05 per share, with a total value of C$126,200.00. Company insiders own 27.64% of the company’s stock.

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.