Banyan Gold (CVE:BYN) Stock Price Up 6.2% – Should You Buy?

Banyan Gold Corp. (CVE:BYN) traded up 6.2% on Tuesday . The stock traded as high as C$1.03 and last traded at C$1.03. 1,239,747 shares changed hands during mid-day trading, an increase of 69% from the average session volume of 731,752 shares. The stock had previously closed at C$0.97.

Analysts Set New Price Targets

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 analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of C$2.25.

Banyan Gold Stock Up 6.2%

The company has a market capitalization of C$424.80 million, a PE ratio of -73.57 and a beta of 2.35. The firm’s 50-day moving average is C$0.89 and its 200-day moving average is C$0.65.

About Banyan Gold

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.