Scotiabank Issues Positive Forecast for Snowline Gold (CVE:SGD) Stock Price

Snowline Gold (CVE:SGD) had its target price lifted by stock analysts at Scotiabank from C$16.50 to C$20.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 25.55% from the company’s current price.

Several other research analysts have also weighed in on the stock. CIBC upped their target price on shares of Snowline Gold from C$17.50 to C$22.00 in a research report on Wednesday. National Bankshares set a C$15.00 price objective on Snowline Gold and gave the company an “outperform” rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of C$17.10.

Snowline Gold Trading Up 3.0%

Shares of CVE:SGD traded up C$0.46 on Wednesday, reaching C$15.93. 334,054 shares of the company were exchanged, compared to its average volume of 168,067. The company has a 50-day moving average of C$13.39 and a 200-day moving average of C$10.77. The firm has a market cap of C$2.76 billion, a price-to-earnings ratio of -53.10 and a beta of 0.27. Snowline Gold has a 1-year low of C$4.95 and a 1-year high of C$16.12.

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.