Snowline Gold (CVE:SGD) Sets New 1-Year High – Should You Buy?

Snowline Gold Corp. (CVE:SGD) shares reached a new 52-week high during trading on Thursday . The company traded as high as C$6.39 and last traded at C$6.34, with a volume of 71883 shares changing hands. The stock had previously closed at C$6.05.

Wall Street Analysts Forecast Growth

SGD has been the subject of several recent analyst reports. Scotiabank cut their target price on Snowline Gold from C$9.50 to C$8.50 in a research note on Wednesday, January 15th. CIBC decreased their price objective on shares of Snowline Gold from C$9.00 to C$7.00 in a report on Monday, December 2nd.

Snowline Gold Price Performance

The company has a 50-day simple moving average of C$5.39 and a 200-day simple moving average of C$5.36. The stock has a market cap of C$1.02 billion, a PE ratio of -58.33 and a beta of 0.81.

Insiders Place Their Bets

In other Snowline Gold news, Director Calum Macleod Morrison bought 25,000 shares of the business’s stock in a transaction on Friday, December 6th. The shares were bought at an average cost of C$5.05 per share, with a total value of C$126,200.00. 27.64% of the stock is currently owned by insiders.

Snowline Gold Company Profile

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.