Banyan Gold (CVE:BYN) Reaches New 52-Week High – Time to Buy?

Banyan Gold Corp. (CVE:BYNGet Free Report)’s share price reached a new 52-week high during trading on Monday . The company traded as high as C$2.12 and last traded at C$2.08, with a volume of 1368113 shares. The stock had previously closed at C$1.97.

Analyst Ratings Changes

Separately, Desjardins set a C$3.00 price target on Banyan Gold and gave the stock a “buy” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Strong Buy” and an average target price of C$2.62.

Check Out Our Latest Stock Report on BYN

Banyan Gold Stock Performance

The company has a market cap of C$929.78 million, a price-to-earnings ratio of -521.25 and a beta of 2.80. The business has a fifty day moving average price of C$1.65 and a 200 day moving average price of C$1.46.

Insider Activity at Banyan Gold

In other news, Director David Rutt sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of C$1.50, for a total value of C$75,000.00. Following the completion of the transaction, the director owned 2,774,224 shares of the company’s stock, valued at C$4,161,336. This represents a 1.77% decrease in their ownership of the stock. Insiders sold 170,000 shares of company stock worth $251,400 over the last quarter. Company insiders own 17.73% of the company’s stock.

Banyan Gold Company Profile

(Get Free Report)

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.

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