Snowline Gold (CVE:SGD) Shares Up 3% – Here’s Why

Shares of Snowline Gold Corp. (CVE:SGD) shot up 3% during trading on Friday . 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

Separately, Scotiabank lifted their price objective on Snowline Gold from C$20.00 to C$25.00 in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Snowline Gold currently has a consensus rating of “Buy” and an average target price of C$20.67.

Snowline Gold Stock Up 3.0%

The stock has a market cap of C$2.76 billion, a price-to-earnings 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$15.02.

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.