Snowline Gold (CVE:SGD) Stock Price Up 6.3%

Shares of Snowline Gold Corp. (CVE:SGD) shot up 6.3% during trading on Wednesday . The company traded as high as C$4.32 and last traded at C$4.23. 199,766 shares traded hands during trading, an increase of 71% from the average session volume of 116,760 shares. The stock had previously closed at C$3.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SGD shares. BMO Capital Markets set a C$10.50 target price on shares of Snowline Gold and gave the company an “outperform” rating in a report on Friday, May 10th. National Bank Financial reiterated an “outperform spec overweight” rating on shares of Snowline Gold in a research note on Sunday, April 28th. Finally, Canaccord Genuity Group lifted their target price on Snowline Gold from C$16.50 to C$17.25 in a report on Tuesday, July 23rd. Four research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Snowline Gold currently has a consensus rating of “Buy” and an average target price of C$11.44.

Snowline Gold Trading Up 8.5 %

The stock has a market cap of C$679.23 million, a PE ratio of -25.00 and a beta of 0.92. The firm has a fifty day simple moving average of C$5.29 and a two-hundred day simple moving average of C$5.52.

Snowline Gold (CVE:SGD) last released its quarterly earnings results on Wednesday, May 29th. The company reported C($0.03) EPS for the quarter.

About Snowline Gold

Snowline Gold Corp. engages in the exploration of gold properties in Canada. Its flagship projects include the Einarson and Rogue projects covering an area of approximately 137,000 hectares located in the Selwyn Basin, Canada. The company was formerly known as Skyledger Tech Corp. and changed its name to Snowline Gold Corp.