Banyan Gold (CVE:BYN) Sets New 52-Week High – Here’s Why

Banyan Gold Corp. (CVE:BYN) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$1.35 and last traded at C$1.35, with a volume of 270651 shares changing hands. The stock had previously closed at C$1.28.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group set a C$2.25 target price on shares of 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 data from MarketBeat.com, Banyan Gold has a consensus rating of “Buy” and an average price target of C$2.25.

Banyan Gold Stock Up 5.5%

The firm has a 50 day moving average price of C$1.09 and a 200-day moving average price of C$0.86. The stock has a market capitalization of C$556.78 million, a PE ratio of -337.50 and a beta of 2.42.

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.