Snowline Gold (CVE:SGD) Stock Price Up 3% – Still a Buy?

Snowline Gold Corp. (CVE:SGD) traded up 3% during mid-day trading on Wednesday . The stock traded as high as C$16.12 and last traded at C$15.93. 334,054 shares were traded during trading, an increase of 99% from the average session volume of 168,067 shares. The stock had previously closed at C$15.47.

Wall Street Analysts Forecast Growth

SGD has been the subject of several recent analyst reports. Scotiabank raised their target price on Snowline Gold from C$20.00 to C$25.00 in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce boosted their price objective on Snowline Gold from C$17.50 to C$22.00 in a research report on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of C$18.10.

Snowline Gold Price Performance

The business has a 50-day simple moving average of C$15.93 and a 200 day simple moving average of C$13.13. The firm has a market cap of C$2.76 billion, a PE ratio of -53.10 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. 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.