Banyan Gold (CVE:BYN) Reaches New 12-Month High – Here’s Why

Banyan Gold Corp. (CVE:BYN)’s stock price hit 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 traded. The stock had previously closed at C$1.97.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Scotiabank set a C$3.00 target price on shares of Banyan Gold and gave the stock an “outperform” rating in a research note on Monday. Desjardins set a C$3.00 price target on shares of Banyan Gold and gave the company a “buy” rating in a research note on Friday, September 11th. One research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of C$2.75.

Banyan Gold Price Performance

The firm has a 50 day moving average price of C$1.67 and a 200-day moving average price of C$1.46. The firm has a market cap of C$847.29 million, a price-to-earnings ratio of -475.00 and a beta of 2.80.

Insiders Place Their Bets

In other Banyan Gold news, Director David Rutt sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of C$1.50, for a total transaction of C$75,000.00. Following the transaction, the director directly owned 2,774,224 shares in the company, valued at approximately C$4,161,336. This represents a 1.77% decrease in their position. Over the last three months, insiders sold 170,000 shares of company stock worth $251,400. Insiders own 17.73% of the company’s stock.

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.