Banyan Gold (CVE:BYN) Hits New 1-Year High – Still a Buy?

Banyan Gold Corp. (CVE:BYN) shares hit a new 52-week high on Wednesday . The stock traded as high as C$1.11 and last traded at C$1.08, with a volume of 1210064 shares traded. The stock had previously closed at C$1.03.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group set a C$2.25 price objective on Banyan Gold and gave the stock a “moderate buy” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Banyan Gold currently has an average rating of “Buy” and an average target price of C$2.25.

Banyan Gold Trading Up 1.8%

The stock has a market cap of C$470.17 million, a PE ratio of -81.43 and a beta of 2.35. The business’s 50-day moving average price is C$0.91 and its 200-day moving average price is C$0.66.

Banyan Gold Company Profile

Banyan Gold Corp. engages in the exploration and development of precious metals. The company explores for gold and silver deposits. It holds 100% interest in the AurMac project that consists of 506 quartz mineral claims covering an area of approximately 9,230 hectares located in the Mayo Mining District, Yukon Territory; Hyland gold project comprises of 927 quartz mineral claims covering an area of totaling 18,620 hectares located in the Watson Lake Mining District, Yukon Territory; and Nitra gold project, which consists of 1,442 claims covering an area of approximately 296 square kilometers located in the Mayo Mining District, Yukon Territory.