Snowline Gold (CVE:SGD) Stock Price Down 2.6% – Here’s Why

Snowline Gold Corp. (CVE:SGD) shares dropped 2.6% on Wednesday . The company traded as low as C$5.45 and last traded at C$5.54. Approximately 64,210 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 132,393 shares. The stock had previously closed at C$5.69.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group increased their target price on Snowline Gold from C$16.50 to C$17.25 in a research note on Tuesday, July 23rd.

Snowline Gold Stock Performance

The firm has a market cap of C$878.09 million, a PE ratio of -30.78 and a beta of 0.81. The stock’s fifty day moving average price is C$5.52 and its 200-day moving average price is C$5.45.

Snowline Gold (CVE:SGD) last released its quarterly earnings data on Tuesday, August 27th. The company reported C($0.05) EPS for the quarter.

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.