Snowline Gold (CVE:SGD) Sets New 12-Month High – Should You Buy?

Shares of Snowline Gold Corp. (CVE:SGD) reached a new 52-week high on Monday . The company traded as high as C$8.41 and last traded at C$8.38, with a volume of 283728 shares. The stock had previously closed at C$8.17.

Analysts Set New Price Targets

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

Snowline Gold Price Performance

The stock’s 50 day moving average is C$6.05 and its 200-day moving average is C$5.61. The company has a market capitalization of C$1.35 billion, a P/E ratio of -76.93 and a beta of 0.81.

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.