Banyan Gold (CVE:BYN) Shares Down 13.2% – Should You Sell?

Banyan Gold Corp. (CVE:BYN)’s stock price traded down 13.2% during trading on Tuesday . The company traded as low as C$1.37 and last traded at C$1.42. 2,169,860 shares traded hands during trading, an increase of 125% from the average session volume of 966,044 shares. The stock had previously closed at C$1.63.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group raised shares of Banyan Gold from a “moderate buy” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average target price of C$2.25.

Banyan Gold Trading Down 10.4%

The stock has a market cap of C$604.65 million, a P/E ratio of -365.00 and a beta of 2.36. The company has a 50 day simple moving average of C$1.28 and a 200 day simple moving average of C$1.07.

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.