Scotiabank Lowers Snowline Gold (CVE:SGD) Price Target to C$8.50

Snowline Gold (CVE:SGD) had its price target decreased by stock analysts at Scotiabank from C$9.50 to C$8.50 in a note issued to investors on Wednesday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential upside of 62.52% from the stock’s previous close.

Separately, CIBC decreased their price target on shares of Snowline Gold from C$9.00 to C$7.00 in a research report on Monday, December 2nd.

Snowline Gold Price Performance

SGD stock traded down C$0.10 during midday trading on Wednesday, hitting C$5.23. The company’s stock had a trading volume of 69,787 shares, compared to its average volume of 125,682. The company’s fifty day moving average price is C$5.22 and its 200 day moving average price is C$5.27. Snowline Gold has a twelve month low of C$3.88 and a twelve month high of C$6.39. The stock has a market capitalization of C$828.96 million, a P/E ratio of -29.06 and a beta of 0.81.

Insiders Place Their Bets

In related news, Director Calum Macleod Morrison purchased 25,000 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were purchased 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.