Snowline Gold (CVE:SGD) Stock Price Up 3.5% – Here’s Why

Snowline Gold Corp. (CVE:SGD) traded up 3.5% during mid-day trading on Wednesday . The company traded as high as C$5.94 and last traded at C$5.91. 121,190 shares changed hands during mid-day trading, an increase of 33% from the average session volume of 91,176 shares. The stock had previously closed at C$5.71.

Wall Street Analyst Weigh In

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

Snowline Gold Price Performance

The firm has a market cap of C$903.45 million, a price-to-earnings ratio of -31.67 and a beta of 0.81. The business has a fifty day simple moving average of C$5.28 and a 200 day simple moving average of C$5.27.

Insider Activity at Snowline Gold

In related news, Director Calum Macleod Morrison purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average price of C$5.05 per share, with a total value of C$126,200.00. 27.64% of the stock is owned by corporate insiders.

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.