Banyan Gold (CVE:BYN) Sets New 12-Month High – Still a Buy?

Banyan Gold Corp. (CVE:BYN)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$1.53 and last traded at C$1.53, with a volume of 1132556 shares changing hands. The stock had previously closed at C$1.37.

Wall Street Analyst Weigh In

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

Banyan Gold Trading Down 7.1%

The stock has a market cap of C$596.37 million, a P/E ratio of -360.00 and a beta of 2.36. The stock’s 50-day moving average is C$1.25 and its 200-day moving average is C$1.04.

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.